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How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
How to get pre approved for a mortgage
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How to get pre approved for a mortgage

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In this presentation I share what a mortgage pre-approval is, what documents are needed to get pre-approved, and what are the benefits of getting pre-approved

In this presentation I share what a mortgage pre-approval is, what documents are needed to get pre-approved, and what are the benefits of getting pre-approved

Published in: Economy & Finance, Business
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  • 1. Pre-approval Basics Shashank Shekhar CEO, Arcus Lending
  • 2. About Arcus Lending • Arcus Lending is Mortgage Lender based in San Jose, California • Products Offered: Residential Mortgages- FHA, Conventional, VA, 203K, HARP, HomePath, Reverse Mortgage, CHDAP, 80/10/10 • Geography Served: California, Washington and Oregon • What are they known for: Legendary customer service, quick closing and rates that are consistently better than the leading banks 9/16/2013 Arcus Lending 2
  • 3. Ab About Shashank Shekhar • Shashank is the Founder and CEO of Arcus Lending • An Amazon.com Best-selling Author, Shashank is widely regarded as California’s #1 Mortgage Expert • He is a National speaker, and a blogger who is frequently tapped for his expertise by various national and local media including FOX, CBS, ABC and NBC 9/16/2013 Arcus Lending 3
  • 4. • The information contained within this document is for educational purposes only. Every attempt has been made to provide accurate, up to date, reliable and complete information. No warranties of any kind are expressed or implied. Readers acknowledge that the author is not engaging in rendering legal, financial or professional advice. Disclaimer 9/16/2013 Arcus Lending 4
  • 5. Agenda • What is a pre-approval? • What are the benefits? • What are documents needed? • What are the next steps? 9/16/2013 Arcus Lending 5
  • 6. What is a Pre-approval? • Pre-approval is a written documentation that shows you have the support of a Mortgage lender who is willing to finance you. • It means your loan application has been reviewed for income, assets, employment and credit. Based on which the dollar amount you are eligible to borrow is determined. Now you can shop around for houses that fit into that loan approval category. 9/16/2013 Arcus Lending 6
  • 7. What are the benefits? A Pre-Approval Letter will help you in three ways: • It lets you know how much mortgage you can qualify for • It gives you an estimate of what your total housing payment would be • Submitting a strong “Pre-Approval” letter with a purchase offer will give the seller more confidence about your ability to complete your end of the agreement 9/16/2013 Arcus Lending 7
  • 8. What are the documents needed? • Income / Assets for Wage Earner: – Last 2 year W2s and Tax Returns – 2 most recent Pay Stubs – 2 most recent Bank Statements, 401(K), Liquid Assets, Investment Accounts • Income / Assets for Self-Employed: – Last 2 year Tax Returns – Business and Personal – Last Quarter P&L Statement 9/16/2013 Arcus Lending 8
  • 9. What are the documents needed? • Letter of Explanation For: – Employment Gap or New Line of Work – Late Payments / Judgments / Bankruptcy on Credit Report • Other: – Bankruptcy Discharge – Child Support Documentation – Lease Agreements (If own other Rental Properties) – Mortgage Payment Coupons (If own other Real Estate)9/16/2013 Arcus Lending 9
  • 10. How do I get Pre-approved? • Call (408) 615 0655 • Email: Info@ArcusLending.com • Website: www.ArcusLending.com • Blog: www.LendingExpertBlog.com • FaceBook: www.facebook.com/ArcusLending Licensing Info: Arcus Lending Inc, NMLS ID 1035734 and CA BRE #01857474 Shashank Shekhar NMLS ID 8176 9/16/2013 Arcus Lending 10

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