WHY WONT YOU SHOW ME A HOME WITHOUT A PRE-APPROVAL!?!

As a real estate agent, I often get asked the question, "why wont you show me a home without a pre-approval." The answer to this question is quite simple. It's because, we dont know how much home you can really afford.  It really makes no sense to look at a 300k home when the reality is that you can only afford a 200k home.  Finding out how much you can afford is very important. Now please understand that when you speak with a lender, and depending on the lender some may issue you a pre-qualification letter. However what you really need is a pre-approval letter. A pre-qualification is an estimate of what you potentially can get. A pre-approval is as close as you can get to confirming your creditworthiness without having a purchase contract in place. Typically my lenders take you loan through underwriting ahead of time while pre-approving you to be sure that you will more than likely qualify for the amount that was quoted to you!  Now, in order to get a pre-approval you would typically need to provide the following documens.  Last 30 days of pay stubs Last 2 years of W2's  Last 2 years of tax returns  Last 2 months of bank statements including the last page that is left blank A copy of ID or Drivers License (front and back)  ** BE SURE TO GATHER ANY OTHER DOCUMENTATION REGARDING YOUR ASSETS (IRA, ROTH, DEF COMP, 401K, 403B) THE LENDER MAY ALSO ASK FOR THOSE AS WELL.    In closing, I acknowledge everybody situations are differnt and some agents are willing to show homes without pre-approvals. I have done it once or twice myself. However understand that it can be a waste of time for both the buyer, and the buyers agent and even the seller who may have to leave the home for the showing. My advice, get the pre-approval, consult with a lender and allow the professionals to guide you on your home buying journey! If you have any questions, please give me a call at 513-289-0582 or you can email me at malikcincy@gmail.com. If you would like to speak with a lender, please contact me or click on home and scroll to the bottom to partner links and contact information can be found readily available once you click on the link!    Equal Housing Opportunity  (Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the views or positions of any entities they represent.)