More Than Just a Pre-Approval. Be A Step Ahead of Other Buyers
If you’re thinking about buying a home, you’ve most likely heard that you need to be Pre-Approved. But what does that actually mean? There are two parts to a traditional Pre-Approval. The first is having a mortgage broker help you determine what homes you can afford by understanding how large of a loan you’ll qualify for. This is sometimes called a Pre-Qualification. The second, and most important, is a conditional commitment to actually grant you the loan. Once you have this commitment, realtors and homeowners will consider you a serious buyer. Most realtors will require you to have a Pre-Approval before showing you any homes.
At First American Mortgage, we take the traditional Pre-Approval to the next level with our Homebuyer Advantage Program. With the Homebuyer Advantage Program, Dan Palumbo will take your loan scenario a step further, so as a Buyer, you are armed with more information and a unique competitive advantage.
How our Homebuyer Advantage Program works:
Initial Underwriting and Approval Letter
Dan Palumbo will work directly with you to review your income, assets, and credit history to provide you with a letter of approval and determine the amount you can afford. This is the traditional Pre-Approval, and it is necessary so that you can look at homes within your budget. Additionally, at First American Mortgage, we take the Pre-Approval a step further as your loan scenario will be run through the Initial Underwriting Process and Automated Underwriting System. This gives you a tremendous advantage over other potential Buyers.
House Hunt with Confidence
Now for the fun part… let the search begin for your dream home! If you are in need of a realtor, Dan can recommend several award-winning realtors in and around the Western Suburbs and beyond. When you’re shopping for homes, you’ll use your Homebuyer Advantage Program Certificate & Pre-Approval Letter to let realtors and sellers know you’re a serious buyer. Since you have completed more steps of the Underwriting Process than most other potential Buyers, this program gives you negotiating power that others won’t have. This is especially important in today’s extremely competitive real estate market and will help you stand out in multiple-offer scenarios.
Close Faster and Easier
You’ve found your home and your offer has been accepted. Congrats; since you participated in our Homebuyer Advantage Program, the hard part is done as most of the paperwork is already complete! Once an offer is made and accepted, Dan will just need the Purchase Contract, Appraisal and Title Commitment to finalize the details of your mortgage approval and for the final review by the Underwriter. This cuts down on closing time and makes a very hectic time easier on you!
If you’re in the market for a new home, Dan Palumbo’s Homebuyer Advantage Program is a no-brainer! Known as one of the top mortgage firms in DuPage County, First American Mortgage can help you navigate an otherwise overwhelming homebuying experience. Helping both first-time homebuyers and seasoned homeowners finance their dream homes for over 20 years, First American Mortgage is proud to be considered a Premier Mortgage Lender and is dedicated to finding a home loan scenario that works for you and your needs.
Let us know when you’re ready to make a move! You’ll work directly with Dan to receive the best possible experience.
Contact us today to get started!