The stronger and cleaner your offer is, the better chance you have.

Today, we’re sharing an important interview with Matt Stancato from Guild Mortgage to talk about mortgage applications and why you should get pre-qualified in this market. As we've been talking about for the last couple of months, today’s mortgage market is crazy and most homes are getting multiple offers. Still, know that the condition of the offer makes a big difference.

By “condition of the offer,” we’re talking about things like: How many riders are attached to it? Does it have to appraise for a certain amount? Do you need to sell another property? Does the seller have to give concessions? Buyers should send the cleanest possible offer to the seller.

“Today’s market is competitive, but a pre-approval will help you stand out.”

In addition, being pre-approved by a mortgage company means a lot, and there are different levels of pre-approval. You can be pre-qualified, which means that someone has listened to what you said about your income and given you a piece of paper. There’s also pre-approval, which means that a mortgage company has taken your information about your income and assets, ran your credit, and ran you through the system. Lastly, you can also be pre-underwritten, which is something that Guild Mortgage offers, but not a lot of places do.

Guild Mortgage allows you to get your information in front of an underwriter before you even have a property in mind. This means that a seller can take a look at your offer and know it won’t fall through. They can know the buyer’s name is on a pre-approval list and is a strong borrower.

One question we were asked recently is: “Should I put all of my assets on the buyer's financials?” To this, we say yes. That being said, Guild Mortgage can have your pre-underwriting prepared within 60 minutes after you call them.

If you have any questions or want help getting in touch with Guild Mortgage, don’t hesitate to reach out to us by phone call or email. We would be happy to help you!