Columbus home buyer mortgage tips Andrew ShowQuick! How much home can you afford to buy? The answer might seem simple, but it isn’t! Columbus home buyers need to understand the difference between a mortgage pre-approval, and a mortgage pre-qualification.

A mortgage pre-qualification is an informal estimate of your home buying power, based on unverified information you give to the lender. Lenders sometimes market “instant pre-qualification” to buyers, in the hopes of attracting new business. At best, a pre-qualification can give you a frame of reference for your potential home buying power. There is no commitment by the lender to actually loan you money in any amount.

A mortgage pre-approval takes you through a full application and underwriting process. In this situation, all of your employment, financial and credit information will be verified. You’ll need to provide copies of your last 2 years of income tax returns, plus 2 months of bank statements, a month’s worth of pay stubs, and authorize a review of your credit report.

Due to automated underwriting, the pre-approval process doesn’t take is long as it once did. Depending on the lender and the type of mortgage you seek, you might have an answer in a matter of weeks, days, hours – or even minutes. The reply you receive will be one of the following:

  • Approved
  • Approved with conditions
  • Suspended (more info/documentation/verification required)
  • Denied (reasons for denial will be provided by lender)

While no one wants to receive a mortgage “pre-denial,” it’s far better to discover an issue with financing before you make an offer on a home! It gives you the opportunity resolve issues – and reapply – before you have a home on the line.

If you’ve done your homework, such as reading our free e-book, “How to Buy a Home like a Pro,” you will likely have performed some financial preparation prior to your mortgage application. Things like a steady employment history, consistent income, good credit, good savings habits, and modest debt levels will help your chances of approval.

Once you have a mortgage pre-approval in hand, you can browse homes for sale in the appropriate price range. You can submit a confident offer when you find the right property.

Home buyers who write offers with a mortgage approval contingency, without showing any reasonable proof of financing ability, are not taken too seriously by home sellers.

When you are ready to begin your mortgage pre-approval, we can help! We will refer you to local, highly reputable mortgage lenders in Central Ohio, who will explain your financing options. When you become our Buyer-Client, we can also help you evaluate the mortgage offers you receive!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

May 2019 Events Columbus Ohio Andrew ShowThere’s plenty to do in Central Ohio during the beautiful month of May! Here’s a sampling of the special events taking place around the Metro Columbus area.

Blooms & Butterflies, Franklin Park Conservatory – Columbus. May 1 – May 31. 10:00 a.m. – 5:00 p.m. daily. See hundreds of butterflies milling amongst the flowers in the Pacific Island Water Garden. New butterflies released daily. Special Mother’s Day craft activities on May 11. See website for full details!

Herb Day – Gahana. May 11. 9 a.m. – 2 p.m. Over 100 varieties of fresh herbs for sale, plus live demos, speakers, arts and crafts, vendors and more. Free admission! Located at the Ohio Herb Education Center, 110 Mill St.

Dragon Boat Races – Westbank Park, Columbus. May 19. 8:00 a.m. – 4:00 p.m. Show up early for the Lion Dance at 8:15 a.m, then enjoy a full day of entertainment with dragon boat races, drum and dance performances, food, music, children’s activities and vendor market.

Spring Fling – Upper Arlington. May 18. 11 a.m. – 2:00 p.m. Enjoy a variety of family activities, including a touch-a-truck, fishing derby, falconry exhibition, arts and crafts, games and more.

Grove City Farmer’s Market. Opens for the season May 18. 8:00 a.m. – 12:00 p.m. Not just another farmer’s market! Live chef demonstration each Saturday, using locally-produced food sourced at the market. Nibble on food samples and try your luck at the weekly raffle.

Family Fun Day – Columbus Commons. May 25. 4 p.m. – 8 p.m. Free admission! Carousel rides, games, crafts and activities for the kids. $5 wristband for access to all inflatables. Free movie at 8:15 p.m.; Ralph Breaks the Internet.

Asian Festival – Franklin Park, Columbus. May 25-26. A cultural celebration of traditional dances, food, exhibits, games, entertainment and more. Explore the marketplace for unique gifts, décor and fashion. Free admission!

Midwest Holiday Antiques Show. May 26. Ohio Expo Center, 9:00 a.m. to 3:00 p.m. One of the largest shows of its kind! Browse and buy antique holiday decorations and figurines.

Memorial Day Parade – Worthington. May 27. Parade steps off at 10:00 a.m. Route begins at East Dublin-Granville Road and proceeds south on High Street to Cemetery Drive. Memorial ceremony follows at Walnut Grove Cemetery.

Memorial Golf Tournament – Dublin. May 27 – June 2. Muirfield Village Golf Club. The tournament is a major PGA Tour event featuring the best golfers in the world!

FORE Fest – Dublin. May 30 – June 1. 6:00 p.m. – 11:00 p.m. Thursday and Friday, 6:00 p.m. – 10:00 p.m. Saturday. Enjoy live music at this free street festival, open to the public. Food and beverage vendors on site. Located at Bridge Park.

When you’re ready to explore Central Ohio homes for sale, we’ll be happy to help you! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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Columbus Home Construction Falling Short of Projected Demand

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If you moved to Metro Columbus in recent years, you’re in good company! The population of Columbus grew by more than 10% from 2010 to 2017. The Columbus Dispatch reports that seven of the fastest-growing cities in Ohio are located in or near Franklin County. With a current growth rate of 1.8%, the number of […]

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5 New Year’s Resolutions for Columbus Home Buyers!

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If owning a home is among your goals for 2019, you can start today by making several home buying resolutions! A wise home buying journey requires a sound financial plan, a good home buying education, and expert guidance from an Exclusive Buyer Broker! These steps will help you put a plan together. 1. Resolve to […]

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