138 - First Time Home Buyer Terms And Definitions From A-Z – “P" Part 3
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 25 October 2022
⏱️ 34 minutes
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Summary
Who knew buying your first home would need THREE entire podcasts to cover all the terms that start with P? The exciting conclusion, part three, of the full glossary of all the new and funky words you'll need to know when buying your first home. David Sidoni starts with the term pre-approval. He disagrees that the first step in buying a home is getting pre-approval from lenders; instead, finding a unicorn realtor should be first. The realtor will recommend a lender they know that is as good as someone you could find on your own. David also shares some positive strategies and facts along the discussion as he lists down the remaining terms and definitions that start with P. Tune into this insightful episode!
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | The exciting trilogy conclusion of the letter P. |
| 0:04.6 | Terms and definitions. |
| 0:06.2 | Get your popcorn and let's do this. |
| 0:24.7 | Well, here we are. |
| 0:25.8 | Welcome, welcome. |
| 0:28.6 | What is up, my How to Buy Homeys. |
| 0:30.1 | This is the How to Buy Home podcast. I'm David Sidoni. |
| 0:31.6 | And now the exciting conclusion to the letter P. |
| 0:36.2 | This is P part three. We're going to start off with the bang. This is P, part three. |
| 0:38.3 | We're gonna start off with a bang. |
| 0:40.3 | Our first P is pre-approval, a term I'm sure a lot of you've heard a lot about. |
| 0:45.3 | If you're a homie, you know that this term was incorrectly, originally described in the M episode under the mortgage pre-approval. |
| 0:53.3 | Ha ha! Oh, the host is a dummy and he sometimes works too late. in the M episode under the mortgage pre-approval. |
| 0:58.1 | Oh, the host is a dummy and he sometimes works too late. |
| 1:02.9 | So let me clarify again, is my job to crush the confusion of buying your first home and not help build it up since I biffed on that one. |
| 1:06.0 | There are two types of pre-loan validations. So before you get a loan, you're going to get a pre-qualification, |
| 1:16.2 | which is garbage and useless, is basically a pre-qualification letter's toilet paper. And then |
| 1:22.7 | you have a pre-approval. You get both of these in the form of a letter and they come from your lender. One's |
| 1:28.4 | called the pre-qualification or the pre-qual toilet paper and the other one is called a pre-approval |
| 1:33.8 | letter. Now, most good realtors are not even going to show you a home unless you have one of |
| 1:39.8 | these. So all over the internet, even if you've only done your first 10 seconds of research into buying a home, |
| 1:45.9 | you've probably read or heard this. |
... |
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