Today we're going to be talking about the steps to take to get yourself approved for a loan. Getting pre approved requires 3 things. First, you need a job. Second you need developed credit. 3rd, you need a history of you making a certain amount of money.
How much money can I actually get? Most banks, in general, are going to qualify you for between 40% and 50% of debt. So If I make $4000 a month, then they believe you can handle $2000 a month of debt.
If I only have $400 a month of payments, then that allows $1600 more dollars for home loan payments.
Now, by the way, I want to invite you to subscribe, see more of these videos, and if you'd like to receive a free approval process, then go ahead and click the link below. Have my team get in touch with you. I've got a team that buys hundreds of properties for me on a regular basis.
Kris Krohn's success in Real Estate can in part be attributed to his rule to only invest in properties with a 15% or higher discount. In other words, to succeed like Kris, you need to know how to find cheap property for sale. In this video, Kris shares how he is able to find so many cheap houses for sale, with so little of his own time.
Video by Nate Woodbury
Hero Maker at BeTheHeroStudios.com