We are Realtors with REMAX of Valencia, we are not lenders. However, it takes the best of Realtors to know the best in the lending profession.
Today is our Truth in Lending real estate radio show and we here at REMAX of Valencia, want you to know we have you covered when it comes to the best intel on all those vendors that are within the real estate realm.
During our show today, we discussed what it is to get pre approved and Debt to income ratio – DTI.
To get pre approved, pre qualified or an Underwriter's approval, you must first give up some necessary documentation. To just give a lender some number over the phone with no documentation to back it up, that is not a “real” pre qualification – that is BS.
If that is what happens to you when you have approached a lender, you need to think twice when it comes to going the distance with said lender.
Another tip that I shared on today's Truth in Lending REMAX Radio Show – was how to keep track of the documents that you turn into the lender.
Make a folder or “personalized box” within your computer or email program. Label it lending documents and put everything you give to your lender inside.
This will save you headaches if and when you desire to switch lenders of if you are asked for the same documentation again from the same lender (which happens way to often, btw).
This is the mechanics of it. Let's say you don't have a scanner or copy machine. When you take anything to the lender, have them scan all of your documents, everything you give them, and email them back to you.
If you have a “great realtor 🙂 ” – then give your lending paperwork to them, have them scan it to you and the lender. Take all of those emails and place them into the folder you created in your email program. Or download all of those files and place them into the folder on your computer you made for this very purpose.
Tune into our Daily Santa Clarita real estate radio show at Paris911.com and when you do, you can view past episodes of our Truth in Lending real estate podcast that happens every Thursday of every week.
Thanks for taking the time to read this information related to Lending and Lenders in the Santa Clarita Valley Cities, we are proud to be of service to you and hope to hear from you soon.
I'm Connor MacIvor with REMAX of Valencia CA's Paris911's Team of Realtors. Click on the email address at the top of this post or call me at the phone number, be safe!