Profile picture for AnnVCaptain

First-Time Home Buyer in Hillaborough

I'm a first time home buyer looking to purchase a home in Hillsborough. I am working on pre-approval before I go looking at homes. Is there any way I can be absolutely sure I am approved before looking? Also, my most recent bank statement has overdrafts but can be explained. Should I wait to get pre-approved? Or is there a lender that can work with me?
  • December 22 2012 - Tampa
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Answers (4)

Find a Realtor in Tampa who can guide you.  I would be happy to help you.
Yes a buyer can get pre-approved or even approved for a loan before searching for a home, if that person is credit worthy. Your lender can pull your credit from all 3 credit bureaus to make a determination if your timing is right..and if you are good to go.

Feel free to call me.
Phyllis Crosby, Realtor/GRI
[contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
REMAX REALTEC GROUP
SERVING THE TAMPA ABY AREA









  • December 31 2012
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I would contact a mortgage lender or broker that is experienced and that is well versed with banks underwriting rules.

Overdrafts can be a problem but a letter explaining what happen and how you will prevent in the future will help.


  • December 24 2012
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Profile picture for AnnVCaptain
My credit is mid 600's and I have a few hits on it, but I cleared them all as of last week. It's just the bank statements I'm worried about. My income definitely covers the mortgage of a 115K and lower house. I do have a buyers agent and am shopping around for lenders.
  • December 22 2012
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Hi Ann,

It doesn't cost you anything to look and become familiar with your local market. Start a good working relationship with a local buyers agent. The agent may be able to help you find a lender in your market.

If you know you are going to have derogatory remarks on your credit report, it would be advisable to provide a letter of explanation when submitting your application. That demonstrates to the lender that you are aware of the problem and can explain what happened.
  • December 22 2012
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