Understanding Your Loan & Pre-Approval
You need to understand the type of loan that you’re planning to use to finance your property: Conventional Loan, FHA, VA, RI Housing, etc. I also recommend that you understand how to use a mortgage calculator— when deciding how much to offer on a property you want to know if you have any room to go up $10k, 20k, 30k, 60k over the list price & understand the difference in the down payment & monthly mortgage amount. Base your decisions in FACTS rather than an opinion or belief.
What documents does your lender require to pre-approve you for a loan:
- Past 2 years tax returns
- 2-3 most recent paystubs
- 3-6 months bank statements for ALL accounts
- Date of Birth
- Social Security Number
- Approval to run a credit check
ADDITIONAL TIPS TO READ OR WATCH TO SUBMIT AN OFFER
![Smarter Financing: Understanding 3-2-1 Interest Rate Buydown](https://assets.agentfire3.com/uploads/sites/970/2023/09/MLS-Photos-31-500x300.png)
Smarter Financing: Understanding 3-2-1 Interest Rate Buydown
Interest rates continue to be a top concern for prospective home buyers in Rhode Island, especially when faced …
![“Do’s and Don’ts” when applying for a mortgage](https://assets.agentfire3.com/uploads/sites/970/2023/04/Dos-and-Donts-when-applying-for-a-mortgage-500x300.png)
“Do’s and Don’ts” when applying for a mortgage
DO: Keep originals or be able to access on your employer/bank sites all pay-stubs, bank statements and other …
![What does it cost to buy a house?](https://assets.agentfire3.com/uploads/sites/970/2023/04/What-does-it-cost-to-buy-a-house-500x300.png)
What does it cost to buy a house?
Inspired by recent conversations, I want to make sure that my clients are prepared for all of the …
![Home Buyer Coaching: Quick Primer on Loan Options](https://assets.agentfire3.com/uploads/sites/970/2023/04/jess-powers-mortgage-options-500x300.png)
Home Buyer Coaching: Quick Primer on Loan Options
For the most part there are two main loan options: Conventional or FHA. Conventional loans: There are conventional …
![Lender Contacts](https://assets.agentfire3.com/uploads/sites/970/2023/04/Lender-Contacts-for-clients-of-Jess-Powers-500x300.jpg)
Lender Contacts
Here are the lender recommendations that I offer my clients. These are professionals that I've worked with many …
Continue Your Homebuying Journey
2
Submitting an Offer
When you’re ready to submit an offer on a house you need to understand the process & what info we need to provide in the offer. You also need to understand the strategies to submit a WINNING offer.
3
Under Contract to Purchase
Submitting a winning offer and having it accepted with an executed purchase agreement is a major milestone in the home buying process, and I am there for you all the time supporting!