Don't Fall in Love Just Yet: Why Getting Pre-Approved Comes First

It’s easy to fall head over heels for a home online—the wraparound porch, the dream kitchen, the backyard that’s just right. But before you let your heart lead the way, let’s hit pause. The next critical step in your home buying journey is getting pre-approved for a mortgage.

Whether you’re a first-time home buyer, a military family relocating to Virginia, or a renter ready to finally own a home, understanding your financing options is the foundation of a smart, stress-free home purchase. And trust me, working with a professional, full-time lender is just as important as having an experienced real estate agent by your side.

Why Financing First? Because Knowledge is Power

An estimated 82% of homes in the U.S. are purchased with a mortgage—so odds are, you’ll need one too. Even if you can buy in cash, taking advantage of today’s loan programs (especially with competitive interest rates or VA loan benefits) might make more sense.

A trusted lender will help you:

• Understand how much home you can afford

• Explore the best mortgage programs available to you

• Estimate monthly payments, interest rates, and more

• Prepare you with a pre-approval letter that strengthens your offer

Getting pre-approved means you’re no longer just browsing—you’re buying.

What You’ll Need for Pre-Approval

Before a lender can issue a pre-approval letter, they’ll want to take a look at your financial picture. Here's a checklist of what you'll likely need to provide:

• ✅ Two years of tax returns

• ✅ Recent pay stubs (usually two or three)

• ✅ Current bank statements

• ✅ Checking and savings account balances

• ✅ Retirement account balances (401k, IRA, TSP, etc.)

• ✅ Profit & loss statement (if self-employed or a 1099 contractor)

• ✅ Your credit score and authorization to pull your credit

‼️ Pro tip: If you're an active-duty military member or a veteran, make sure you also have your Certificate of Eligibility (COE) for a VA loan.

Once these documents are submitted and reviewed, your lender can issue you a pre-approval letter. This isn’t just a piece of paper—it’s a powerful tool. Sellers often require it before even considering your offer. It shows you’re serious, ready, and qualified.

Let’s Talk “PITI” – What’s in Your Mortgage Payment?

Ever heard the term “PITI”? It’s not just real estate lingo—it’s what makes up your monthly mortgage payment:

• Principal – The actual loan amount borrowed to buy the home

• Interest – The cost of borrowing that money (aka your rate)

• Taxes – Local property taxes based on your home’s assessed value

• Insurance – Homeowners insurance, required by your lender

Understanding these four components helps you plan realistically for your total monthly payment, not just the price tag on the home. It's also important to understand that if you live in an HOA there will be a monthly fee which needs to be considered.

Common Loan Types for Virginia Home Buyers

There’s no one-size-fits-all mortgage. Depending on your background and financial situation, one loan program might suit you better than another. Here’s a quick breakdown:

🔹 Conventional Loans

Great for buyers with strong credit and at least 3-20% down. Often used by repeat buyers or higher-income borrowers.

🔹 FHA Loans

Backed by the government and ideal for first-time buyers. Offers lower credit requirements and down payments as low as 3.5%.

🔹 VA Loans (Perfect for Military Buyers!)

No down payment, no private mortgage insurance (PMI), and competitive interest rates. This is an amazing benefit for veterans, active-duty military, and surviving spouses.

🔹 USDA (and RD) Loans

Available for rural and some suburban areas (yes, even in parts of Virginia). Offers 0% down and low-interest rates for eligible buyers.

Why Working with the Right Lender Matters

Not all lenders are created equal. I only work with full-time, experienced loan officers who are committed to your success—not just pushing paperwork. A great lender will:

• Answer your questions patiently (even the ones you think are silly!)

• Offer tailored loan options—not just cookie-cutter solutions

• Work nights and weekends to get your offer ready fast

• Close on time, so you’re not left hanging

When you work with me, you’re not just getting a real estate agent—you’re getting a team of professionals who care about your journey.

What Comes Next After Pre-Approval?

Once you're pre-approved and you know your budget, it’s officially time to start house hunting! You’ll:

1. Save time by only viewing homes in your price range

2. Feel confident submitting strong, complete offers

3. Be ready to act fast when the perfect home hits the market

That pre-approval letter becomes your golden ticket—and your peace of mind.

Final Thoughts: Financing is the Foundation

Before you start swiping through online listings or scheduling tours of your dream home, take a step back and focus on getting pre-approved. It might feel like just another item on your to-do list, but it’s actually one of the most important moves you can make. Pre-approval isn’t just about crunching numbers or filling out paperwork—it’s your personal blueprint for a smart, strategic, and successful home purchase.

Knowing what you can comfortably afford gives you confidence and clarity. It helps you narrow down your options, move quickly when the right property hits the market, and shows sellers that you're serious and ready to make a strong offer. Whether you're a first-time buyer figuring it all out, a military family planning a PCS move, or a long-time renter ready to invest in a place of your own, your financing plan sets the tone for every decision that follows.

So don’t skip this step or leave it for later. Get pre-approved early, work with a trusted lender, and set yourself up for a smoother, less stressful home buying journey—one where you're in control from day one.