502-429-3866

What Is My Home Worth?

Our FREE service provides you with your home's current market value and suggested selling price.

Tuesday, June 20, 2017

6912 Williamsgate Blvd, Crestwood, KY 40014

Welcome to 6912 Williamsgate Blvd, a stunning, 2.5-year-old home in the Williamsgate neighborhood. This 1.5 story home in Crestwood is an original Ball Homes product is a modified “Jackson” plan with plenty of upgrades. In ...  Read More

Tuesday, May 30, 2017

10904 Rock Ridge Pl, Louisville, KY 40241

Welcome to 10904 Rock Ridge Place in the prestigious Rock Springs neighborhood. This new home (built in October 2015) would fit many people's description of a dream home. Every upgrade you could ever dream of can be found in the home, starting with ...  Read More


PRE-APPROVAL FOR LOUISVILLE BUYERS

Real estate agents and lenders recommend that home buyers be pre-approved with a lender before shopping for a home. This way you will have the best information about the price range that you have chosen.

REASONS TO BE PRE-APPROVED:

  • With pre-approval, you can determine which loan program best fits your need and which for programs you qualify.
  • You will know exactly how much you can spend. It is no fun to find your ideal home and then realize that you can't afford it.
  • Your monthly payment will be set. This will allow you to budget your money before making this large investment.
  • It shows you what the down payment and closing costs will be.
  • If you are a first-time buyer, you may be able to qualify for a special first-time buyer program which may allow you to afford more home for your money.
  • Sometimes you may be eligible for special buyer incentives, down-payment assistance, etc. These programs come and go, and your lender will be aware of all of them as you discuss your loan.
  • As we make an offer, it shows that we are serious buyers. The sellers will pay much more attention to us.

What does it take to be pre-Approved in Louisville?

  • 2 most recent pay stubs
  • W2s from the last two years.
  • List of assets
  • If self employed, the lender will need 2 years of tax returns.

The lender will pull a credit score report.  Coupled with the above data, they will be able to share with you how much house you can afford.  They will know which loan program (conventional, FHA, VA, USDA, HomePath, etc.) that best suits you. They will talk about how much down payment is needed.  They will be able to inform you of the monthly payments and whether mortgage insurance (PMI, MIP) is required.  They will also give you a closing cost estimate or initial fees worksheet. 
One thing to note here, at this point, your interest rate is not locked down.