What It Is: An in-depth client interview to assess financing needs and requirements prior to the purchase of a new home. This process will determine purchasing ability and identify options for financing. Goal: The primary goal of the Pre-Purchase consultation is to lay the groundwork for integrating your mortgage into an overall long and short-term financial plan while achieving payment and equity objectives. How: During the consultation John will discuss specific home ownership goals for the next several years. At the same time he will identify financial objectives as they relate to all areas of financial management including retirement, investment, savings and equity goals. This is critical to designing the most appropriate financing for each individual client. Documentation is then reviewed and any additional information is identified. The completed package is submitted to underwriting for an immediate decision putting the client in a formal pre-approved position. Formal Loan Approval: Yeah! This formal loan approval provides you with additional leverage when making purchase offers, especially in a competitive situation. A formal pre-approval also puts you in a position to close transactions in much less time than your competition; this can result in savings when negotiating terms either in price or time. Why: A key objective of the Pre-Purchase consultation and formal pre-approval is to move the stressful financial decision aspect of purchasing a home in front of the fun part of actually looking at and finding the perfect home. This process will also determine transaction needs in order to lay the groundwork for a smooth and trouble free escrow, ensuring a timely closing with a minimum of stress. Looking at homes with full purchase confidence will allow you to focus more clearly on what you truly want and need in a home and allow you to make intelligent and long-term decisions at the appropriate time. When: As soon as you begin thinking about buying a home. Call us, we'll get you started or ask your real estate agent for a Thompson Group Pre-Qual 1st form to begin the process.