As you know, we've been scouting out a new house. Well we recently got a little more serious about it and applied for pre-approval on a loan. Good news - we were approved!
The thing that made this pre-approval a little stickier than normal is that we anticipate still owning our current home. Which means we needed to be approved not only for a new mortgage, but still be able to carry this one at the same time. We intend to lease this house out (1167 square feet, 2 car garage & a yard can be all yours in October!) but the lender can't take that into consideration since it would ultimately remain our liability. Anyways, long story short, we needed to be approved for a BIG amount.
Step 1: check
Steps 2-100: ongoing