The first step in buying a home is to get pre-qualified to determine how much home a borrower can afford, how much money they need to complete the transaction and the amount of the monthly payment (including the principle, interest, taxes, insurance and any condo fees.)

A lender will issue a Pre-Approval letter or form indicating the buyer is credit worthy.

Almost always, a Realtor will require a prospective buyer to be Pre-Approved before they begin to show homes.

Sellers will also want to know that the offer they received comes from a qualified buyer.

In order to Pre-Qualify, lenders will need the following:

  • Employment history and Income
  • Monthly debts and obligations
  • Source and amount of money available for down payment and closing costs

A Pre-Approved buyer is always in a much better competitive position to make an offer.


Let us provide you with a FREE Pre-Approved offer today.

David Levitt

NMLS ID 697457

(248) 330-5888 Cell Direct
(248) 256-9994 Fax

Somerset Lending Corp
640 W. University Dr.
Rochester Hills, MI 48307



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