Searching For Your Dream House? Getting Pre-Approved Should Be Your First Step

Looking to buy your Dream House?

Getting preapproved for a mortgage is a smart step for any homebuyer.

When you apply for preapproval, the bank checks your credit and asks for all your financial documents.

The preapproval letter gives you confidence that the bank wants to lend to you, and it will also tell you the limit on what you can borrow.

However, a preapproval letter does not guarantee that you will end up with a mortgage from that lender, which may ultimately decide to deny your loan request!!!

Don't let this happen to you!!!

The Mortgage Loan Officers

on my Real Estate Dream Team

will help guide you through the process,

so this does not happen to you!

Call/text me at (630) 669-2401

or email me at

Also, Please feel free to visit my Real Estate Website

to see properties currently listed in the MLS and much more!

Looking forward to hearing from you soon

so we can start your incredible journey of

finding your Dream Home!

Monica Mancano, REALTOR®, SRES®, MRP, AHWD

Century 21 Affiliated

Enjoy the article!

Why Getting Pre-Approved Should Be Your First Step by the KCM Crew

In many markets across the country, the amount of buyers searching for their dream homes great outnumbers  the amount of homes for sale.

This has led to a competitive marketplace where buyers often need to stand out.

One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Have questions or need additional information?

Call/text me at (630) 669-2401

or email be at

My Real Estate Dream Team and I are here for you!

Monica Mancano, REALTOR®, SRES®, MRP, AHWD

Century 21 Affiiated




About The KCM Crew

We at The KCM Crew believe every family should feel confident when buying & selling a home. KCM helps real estate professionals reach these families & enables the agent to simply & effectively explain a complex housing market. Take a 14-Day Free Trial of our monthly membership to see how we can help you!

Monica Mancano

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