How one borrower’s pre-approval made his mortgage as easy as 1-2-3

Brent, a successful attorney, was relocating to a suburb of Chicago when it dawned on him that the time was right to buy a house. Before he began looking for the perfect place, he decided to put his research skills to work. He used the Internet to brush-up on mortgage loan jargon and practices. After that, he talked to a few friends who had already made the leap into home ownership.

After he had become sufficiently self-educated about the industry, Brent knew that it was time to seek pre-approval. While he didn’t exactly relish the thought of the paperwork this step would require, he knew that pre-approval would make sellers more likely to accept an offer below their asking price. He began contacting lenders to determine what interest rates he might be eligible for. And from then on, he applied the following: basic 1-2-3 steps.

1) Once he identified the lender he wanted to work with, Brent received pre-approval without any problems. Long years of borderline obsessive-compulsive record keeping had finally paid off, making it relatively easy to put together all of the documentation required. As his lender complimented his thoroughness, Brent made a mental note to tell his therapist that maybe his neuroses were useful after all.

2) After receiving pre-approval, it took Brent a while to find a house that suited him. Time wasn’t an issue so much as the burning necessity to find the perfect house. Perhaps, thought Brent, my neuroses aren’t so useful after all.

3) Eventually Brent managed to find a house, and he was able to close pretty quickly because he had already been pre-approved. He lived happily ever after, basking in the glory of his perfect low-interest, fixed-rate mortgage.