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The Ultimate Pre Approval Cheat Sheet
Dated: March 26 2025
Views: 30
The Ultimate Pre Approval Cheat Sheet
Co-written by The Sherman Team and Allan Salter
It’s no secret that it’s a big deal when it comes to getting pre-approved to buy a home. All of a sudden, factors like how much you make, how much you spend, how much debt you have, maybe bills you possibly forgot about in the past, and how diligent you are in paying your bills and obligations all get looked at and all become very important.
We’re not going to mince words when we say that this process has to be handled with kid gloves to ensure that everybody who trusts us with helping them to buy a house are getting the best treatment possible, so you guys can eventually get pre-approved the best way possible. Everybody also has a different financial picture. We all do not work the same job, have the same financial situations or have the same type of income.
That’s why we’re lucky to have the lending partner that we work with. Allan Salter with Mac 5 Mortgage is extremely versatile across the board with lending programs, very experienced in taking a look at someone’s credit and being able to provide some education on how to build credit if needed.
In other words, he knows a thing or two because he has seen a thing or two
We asked Allan straight up: “What are the most common things you see across the board that need some education and some TLC in order for people to be pre-approved the best way possible?”
His answer:
- How credit scores are affected
- How to build Alternative Credit history
- What kind of a paper trail is really needed
- What costs there are beyond down payment on a home purchase
- How to make a 1 month, 3 month, 6 month, 12 month plan to be approvable
- How to cover closing & escrow costs by adjusting loan term slightly
Why does all of this matter? Because we take it very seriously to make sure you guys know what’s going on through every part of the home buying process so you guys can eventually achieve the dream of getting a house…
…Which is why we’re thrilled to be launching this series jointly with Allan. Its goal is to make everybody a little bit more aware and to hopefully answer common questions along the way. We will be covering in depth each one of these bullet points so when we eventually wrap this up, you guys will have: The Ultimate Pre Approval Cheat Sheet.
Stay tuned for future parts and if you guys see something that didn’t make the list that you wanted covered, hit us up and let us know.
Bonnie and Josh Sherman
We’re Bonnie and Josh Sherman — a mother‑and‑son real estate team proudly serving Northern Colorado. As lifelong Greeley natives, we’ve watched Weld and Larimer counties grow into the thrivi....
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