All Forum Posts by: Carlos Martinez

Make sure your partnership is clearly detailed in writing. I have seen partnerships dissolve quickly and unexpectedly because clear expectations were not laid out from the beginning.

@Carlos Martinez- 1) if you have  no property yet and  are trying to get pre approved - and  trying to decide on a lender to use for this - you DO NOT  need to have the  credit pulled  yet  2) contact whatever lenders  you want on the same day and  provide the same  criteria  ( price / loan amt / credit score/ loan program ) and  ask  for   quotes  from them   and  any other  questions you have  3)   if any are not willing or able to  provide quotes - take them off your list  4) make a  decsion on one lender from the feedback  received and proceed with the one  lender for the  formal  pre approval and  have them pull the  formal  tro merge  credit report  and provide them with all your data ( paystubs / bank statements  / w2s  etc ....)   5) once pre approved -  begin to aggresively  house  hunt  6) when a  property is  found and you get into contract - you can  cost compare the lender  you are  pre approved with  with any  other lender and make final decision to proceed with rate lock with the lender you choose 

 Hi Carlos,

Congrats on getting the process started! If anything, I would recommend getting a specific pre-approval for each specific property you are looking to submit an offer on, instead of just 1 generic pre-approval letter for general shopping. I would imagine the person you're working would be willing to do that. Once you've submitted an offer, have that person reach out to the listing agent to go over the pre-approval with them. They can explain how you're more than qualified for the loan and answer any questions they may have. This usually gives the listing agent peace of mind knowing that the client is ACTUALLY qualified to purchase the property and make your offer stand out.  Best of luck! :)

 It is better if you contact a Mortgage Broker, especially if you are looking to shop around. They only need to pull your credit once and they can provide you with several quotes, even from Rocket on their wholesale side. Are you looking to purchase your primary residence? 

Carlos,

Make sure you get a quote from an actual Bank FDIC one that is fully delegated and has little to No overlays! This will help avoid points and excessive hard costs.

Message me if you have any questions!