What Happens During Pre Approval | How to Get Approved for a Home Loan (Watch Before You Apply!)
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- Опубликовано: 15 май 2020
- What Happens During Pre Approval | How to Get Approved for a Home Loan
👉 Micole Sudduth: msudduth.banksouthmortgage.com/
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I am a Housing Counselor and I am adding this video to the referrals in my class.
One of the best videos of all times that I have seen about the process, super informative, very well explained
People like to be relative on their explanations in RUclips, their channels, but this one is sooooo goooooooooooodddddd
Thank you. My clients will love it!!! Thank you!
Thanks for watching and sharing😊We appreciate the feedback
Hi, I'm living in Long Island NY, I'm planning to buy a house I wanna know what should be my first step?And this will be my first house.
I was about to make this EXACT comment! I’m referring this video to my housing clients as well.
My partner and I got pre-approved after 5 years of prepping. 😭😭😭 For any of you out there still in the process, do not get discouraged. Find out where you stand, make a plan, and execute. You got this!
Congratulations!!!
I really needed this
It'd be nice if stuff like that were taught in school. 2x-7 haven't helped much in life
It's funny, I've used to teach business education to high school students and they barely pay attention because they are thinking I don't need credit and I'm not buying a house right now. However, when they get in their 20s and they contact me -they are like Mrs. Hill I should have been paying attention. That saying "when the student is ready the teacher will appear" is very true, when things become relevant people start paying attention. But hopefully some of what I taught stuck with those 14-18 year olds.
Totally agree with you!!!
As a school teacher and been through the home buying process, I wished real estate agents could be more like school teachers. And here you are! Thank you for spreading knowledge to empower people in making one of the most important decisions in their lives. You are awesome!
Thank you so much for your kind words. Yes, there is so much to understand and we teachers have the patience🙂.
Let me get my popcorn because I'm excited about this
Thanks for watching!
Thanks for watching everyone, I am going to try to schedule an interview with Micole monthly. What other video topics do you want me to cover?
This was very informative. Thanks for making this video!
Q&As are great! Here are some ideas for another Q&A session. Down payment assistance programs/Closing Costs/Amount of money to have saved for the house price/Checking and savings account requirements during pre-approval and closing (unexplained deposits/withdrawals)/Job requirements to qualify for loan (how long to be in job, will multiple jobs assist in qualifications)/DPA programs are specific to states, but what about other mortgage types i.e.HomeReady mortgage/Pre-approval process and high DTI/Can retirement loans be used for down payment and will those monthly loan payments count towards DTI/Credit scores were discussed in this video - elaborate on which median FICO score - FICO mortgage score or FICO score 8 or 9/PMI and property taxes when mortgage loan is financed at 100%
@@favorednloved1302 yes, thanks for this.
Tiara E. You’re welcome!
questions related to what will, or might change because of this crazy economy with the quarantines
This is right on time because I’m looking to apply for a mortgage
ME TO AS WELL IM JUST LOOKING BECAUSE THERES ALOT OF SCAMS OUT HERE SO BE CAREFUL AND WISHING YOUR THE BEST OF LUCK
Shaheeda is brilliant with these questions. She’s organized, detailed, and knows how to ask the hard questions. I’m learning SO much from these videos. Great job!
The part about student loans hits hard. I remember thinking about my future BEFORE taking out the student loans and deciding if it was worth it to borrow. It’s extremely disheartening that my choice to further my education prevents me from being a homeowner even at such a young age. Very helpful information though as always!
Yes it is a hard one, thank you for watching!
Wowww... I didn't want an apartment life till I die..gezzz
OUTSTANDING VIDEO. I'm a relatively new listing agent and helped my sister sell her house and then buy. We were both shocked that they used her student loans to disqualify her when buying. Her credit is exceptional, DAMN NEAR 800, and we were blown away by how challenging it was to close on the purchase all because of the DTI using the student loans.
Thank you so much for watching and for you feedback.
My student loan is 149 monthly with a total of 18000 owed. Loan in good standing. Making 59000 yearly. Dti ratio is under 36%. Trying to buy home for 212000. Credit score 590 and trending up
I'm glad I watch this video , it answered a lot of my questions. Thank you
1. Pre-Approval (submit docs) vs Pre-Qualification
2. Pre-approval process (pay stubs, 60 days of bank statements, 2-3 years of W2's, 2-3 years of tax returns, credit pulled reviewing the Big 3 credit bureaus, hard inquiry)
3. Use the lowest median credit score of the couple.
4. Note on collections
5. Self-employed buyers
6. 10:39 Pre-approval from South Mortgage is good for about 120 days
7. Types of loan routes
8.Challenges to approval
9.
You covered so much in this video! Everything was clear and to the point! Thank you!
Glad it was helpful! Thank you for watching.
Thanks Mrs Hill for the information you are a blessing 👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽❤️
love that you break this down so we can understand! keep the videos coming
Thank you! Will do!
Great video, this is crazy you lady’s answered everything that I had as a question as I thought about them. This needs to trend for home buyers
Thank you
I just wanted to take a moment to thank both of you ladies! I appreciate you! While I wish I had seen this video and others before starting, I learned a lot more from the both of you than I have from the lenders we've been working with. So much was explained in this video that no one else explained, however I take responsibility for not researching before I started. I'm on it now! Thank you again ladies!
Thank you so much for taking the time and leaving feedback. Best of luck!
You ask excellent questions. Thank you for the thought that went into this video. It’s helped me out greatly.
Glad it was helpful!
Oh wow so informative and from two very knowledgeable WOC! I know you’re looking out for our best interests. Thanks for the video
Thanks for watching!
Thank Thank you. You are coming through with this info. I didnt know they dont look at medical or the under 2000.00 if something charge off. Our last lender didnt tell us that. Wow.
Very good information! Very thorough!!!
I've found your videos to be super helpful. Thanks for doing them!
Glad you like them!
This is thee best video I have seen so far on house buying process.
INCREDIBLY helpful! Thank you!
You're very welcome!
Student loans is what will get me🤦🏾♀️
Same here
thank you always! your videos are really a big help especially this one! wish you more success
Thank you !
Very informative video! Thanks for sharing!!
Great information!!!!!, i was told I needed to pay off two old collections over five years old!!!!!
You have great content. Thanks I learned so much from watching two of your videos 👌🏾
Awesome! Thank you!
Always great and informative videos!
You ask the perfect questions.
I bet you would make a great trial attorney!
😀Thanks for watching!
You’re really great at this, the questions you asked were exactly what my wife and I needed answers to. Thank you🙏🏾
Glad it was helpful, thank you for watching.
Very detailed video! Lots of good information.
This is great info! Practical simple and real life. Cheers!
Glad it was helpful and thank you for watching!
This was so informative and helpful, thank you both!!!
Glad it was helpful!
Thank you so much 🥰 great info . I wonder if she works with Oregon residents
Thanks for this informative video- you answered so many of my questions! I’m going to talk with my credit union today to get a pre approval just to see where I stand. Thanks again!
Glad it was helpful!
Great interview!
So thankful for this video, it was VERY informative and easy to understand.
This is the most informative video I’ve seen yet. I love ur channel keep it up. I’ve learned more in the past three days the the past three months. 💎
Thanks for the feedback and for watching...I appreciate that.
@@ShaheedahHill Thank you. The medical bill was a 💡 for me. I’m still gonna pay them but good to know it doesn’t hurt me when qualifying.
This was so informative! Thank you so much for doing these videos Shaheedah!
Thank you for watching!
Your videos kept popping up during the pandemic when I was not interested in buying a house. Fast forward 4 years and I am starting my process. I saved your videos in 2020 and they have been so helpful. I attended a webinar with Micole recently through invest Atlanta. Thank you for your content
Wow. thanks for hanging in there with me. I appreciate it!! Best of luck on the home search.
I just got pre approved on Friday. Girl you’re amazing! I’ve watched you videos in order to get me to this point. I came along way. Thank you!!!
Congratulations! Thanks for bringing me on the journey😊
OMG I needed this sooo bad!! Thank you so much for this video!! God bless you!!
Thanks for watching
Great questioning!! Great video, thank you!
Thanks for watching!
Great questions and information. Thank you and blessings!
You are so welcome
This is so helpful, thank you ladies!
You're so welcome!
Thank you im definitely manifesting.
Invaluable information. Thank you ❤️
So I’m 23 and I’m trying to buy my first home so I’m doing my home work. I’ve watched most of your videos and I’ve been taking notes so I know what to expect once I go through the pre-approval process so thank you for everything your doing! It’s very helpful!!! 👍🏾
That is awesome! Thank you for watching!!
Love your videos. So helpful. Keep going.
Thank you for this. I just found your channel, and it is a gem. You are a blessing for real! Thank you! #Subscribed
Thanks for finding me and subscribing!
Great Job!!!
Awesome Q&A ‼️
Thanks for watching!
This video very eye opening and enlightening...thank you for what you do...
You are so welcome
Excellent video! Very informative! Thank you!
You're very welcome! Thank you for watching!
This was good 👍
Yayyy, you dropped it on RUclips ❤
Yes! She is great!
This was great information. I needed this
Thank you. Great video
Thank you for making this video!
Thanks for watching!
OMG all of my collections are medical! This is so informative 😌😌😌 thank you both! I can't wait to show this to my husband 😍
Mind blown, I didn't realize this either.
I've learned so much
Thank you 🙏 so much . You are very appreciated. I love your guests.
Thank you so much for watching!
This video is amazing! Thanks for the information. All of my questions were addressed. Your teaching skills are on display when you provide insight, pose questions/answers and simplify the information. I’ve learned so much from you over the past 3 weeks - been binge-watching your videos. Keep them coming! You are amazing with this knowledge. I’m no longer fearful re: the process of purchasing a home - just more informed now. Thanks!
Thank you and you can definitely do it, Best of Luck!
I totally agree. I've been binge watching as well. I wish she was in NC, she would definitely be my Realtor. I just turned in my info to the bank on Friday for pre-qualification. Afterwards, I'm hoping to get a Realtor as great as Shaheedah
Latasha H Good luck with the pre-qualifications! Congratulations in advance!
The Real Realtor - Shaheedah Hill Real Estate Thank you, Shaheedah!
Great Information, thank you for all you do!!
Thanks for watching
Thank you ladies ✨👌🏽
Great video! Answered a lot of my questions!
Thanks for watching! If you liked this one, here is an updated one you will like as well - ruclips.net/user/livecpewL4OlpjQ?feature=share
Thank you for your work in this video. I am in the process of collecting all the necessary documents going forward. Thanks
Thank you for watching and best of luck!
Great Video! Thank you 😊!!!
Thanks for watching!
Great video im starting my process tomorrow
Great, good luck!
Such a GREAT video!!! Thank you!
Thanks for watching
Once again, a very hopeful (helpful) video!
Glad it was helpful!
This is eyeopening!! I've been apprehensive about seeking pre-approval/ applying bc I thought my credit score would drop about 20 points🤦🏾♀️... thanks so much!
Don't wait, it is not a major hit and you will know where you stand.
This was a really good video. I’m currently under contract. I came in debt free with a sizable amount of money saved. The pre-approval process was smooth. This video was honest and informative.
Congratulations on your new home! Thanks for the feedback!!
The Real Realtor - Shaheedah Hill Real Estate thank you 😊
Great video as usual. I closed on my house on April 29th and your videos help me along the way on what to expect and what questions I should have been asking and what I needed to focus on. Thank you!
Congratulations! I need to interview one day for the channel so you can share your new home buyer wisdom!
Anytime
I will be watching the interview. I never owned a house and I am interested to buy one in Florida. I don’t know where to start. Please help.
Thank you so much for doing that
Very informative
So helpful! Thank you for this ❤
You're so welcome!
Excellent info ladies! Thank you💕
Thanks for watching!
Thank you for this information. Good stuff.
Glad it was helpful!
Thank you so much This information is extremely helpful
I love this, just real talk! Very informative . You ladies were on point. Thank you for the information.
@snsmowingservice998 Thank you for watching and if you liked this one, here is a more up to date version on the pre-approval process with another lender ruclips.net/user/livecpewL4OlpjQ?feature=share
Muchas gracias! Excelente información
De Nada!
Great job ladies!!! Way to help spread education :)
Thanks for watching
You are amazing at teaching us. So many if our people need to learn this. I cane from a family where finances and buying a home were never really talked about. Thank you fir this.
Thanks for watching and for the feedback. I appreciate it!😊
Great video! Very informative and practical.
Thanks Fred!
This is the best video I’ve seen on pre-qualification and pre-approval thank you ladies so much! Our landlord is selling the house we currently rent and my husband and I are trying to figure out what to do! He’s a veteran so I’m hoping we can qualify for something.
Best of luck and thank you!
@@ShaheedahHill Quick Update: We we’re told we had to pay off the collections we had. Mines total $1700 (this is in a DMP and I’ll be done in 3 months) and he had a medical debt for $800. I guess the rules down here in South Georgia a little different on the collections less than $2000 because they requiring us to pay ours. Anywho thanks again for the great content!
This was WONDERFUL and VERY INFORMATIVE. You rock gurlie😘😘😘
Yay! Thank you!
How are judgements handled?
This is a great, detailed video. Thank you!
Thanks for watching
This is the type of information that can be GAME CHANGERS! You asked brilliant questions and I got clear answers that I needed to know to make next steps. Awesome content...thank you thank you!
Thanks so much for the feedback and for watching!
I'm looking to apply for a mortgage loan in June. So glad I came across this video. It looks like all my ducks are in order. It's been two years of working on my credit, paying off all my debt, and saving for my down payment.
Go for it! You will be ready!
Lucky you & Congrats you got this👍🏽. I’m so sorry I didn’t get to see this and a few other of her videos before taking the plunge...
Thank you!
Thank you. This is very helpful.
Thanks for watching!
Heyy Shaheedah, Girl thank u so much for this Video honeyy, I am in the process of cleaning up and rebuilding my Credit right now during this Pandemic. So yasss this was right on time for me🤗
Thanks for watching😊
Love the video, thank you!
You are so welcome!
great video!!!! you are awesome thank you
Thanks for watching!
Very informative thank you so much
Glad it was helpful!
super informative video, thankyou very much!
Thanks for watching
Thnx for this video, you taught me alot
Glad to hear that, thank you for watching!