Zach: Hi, this is Zach Miller from the Hoover Group, Counselor Realty of Bemidji and I’m here with Max Cloose today from Security Bank. Max is going to be giving us some information on the pre-approval process.

So, Max, what items do you need to pre approve a buyer when they come in to meet with you?

Max: Well, a pre approval is only as good as the information it’s based upon. In order to get a strong pre approval, we would need two months bank statements, two pay stubs and two years federal tax returns; along with all the corresponding disclosures and your W2’s.

As you know, a pre-approved buyer is able to make an offer with confidence, whenever the time is right!

Zach: Okay, thanks Max. If you guys have any more questions about the home-buying process, reach out to Max. Or stayed tuned for our future “Lender Spotlight” videos. Thanks!

 

Zach: Hi, this is Zach Miller from the Doug and Melissa Hoover Group, Counselor Realty of Bemidji. I’m here with Max Cloose from Security Bank. Max is going to share with us some of the products that they offer to homebuyers.

So Max, what are the different programs that you offer when people come in to meet with you?

Max: We offer a variety of loan products to meet your financial situation. That includes FHA, VA, Rural Development, conventional, construction, home equity and land loans. The right loan product for you depends primarily on your capacity, down payment availability, credit history and the type of property you wish to purchase.

Zach: Great! Thanks Max. If you guys have further questions, feel free to reach out to Max. Or stayed tuned for our future question/answer segment on our Lender Spotlight. Thanks!

 

Zach: Hi, this is Zach Miller from the Doug and Melissa Hoover Group, Counselor Realty of Bemidji. I’m here with Max Cloose of Security Bank.

And Max, we are wondering what advice do you have about the time frame between the purchase agreement and closing day?

Max: It’s really important not to make any changes to your credit or your employment from the day that you sign a purchase agreement to the date of closing.

Examples of things to avoid would include… having anyone pull your credit, opening up new credit cards— even if there is no payments for a certain period of time— or making any other major purchases including a car, furniture, appliances, or anything else that you may need to borrow money for.

Essentially, you want to avoid borrowing any money for any purchase from the time that you’re pre-approved to the time that you close on the purchase of your home.

Zach: Great, thanks Max. If you guys have any other questions, feel free to reach out to Max. Otherwise, stayed tuned for a future Lender Spotlight where we answer your questions about the home-buying process. Thanks!