Tips for Getting Pre-Approved for a Mortgage on a Normandy Homes Home Purchase
- Nitin Gupta, CRS, REALTOR
- May 19
- 3 min read
If you're considering purchasing a new construction home from Normandy Homes, getting pre-approved for a mortgage is a critical first step. This guide outlines the best strategies to improve your chances of securing favorable financing and ensuring a smooth purchase process.
🏡 Why Pre-Approval Matters for Normandy Homes Buyers
Getting pre-approved before walking into a Normandy Homes sales center gives you a competitive edge and allows you to:
Lock in interest rates
Understand your true budget
Strengthen your offer in case of multiple buyers
Get access to potential builder incentives tied to preferred lenders
✅ Step-by-Step Tips for Getting Pre-Approved
1. Check Your Credit Score First
Your credit score directly impacts your mortgage rate and approval terms.
Aim for a credit score of 620+ for conventional loans
Scores of 740+ typically qualify for the best rates
You can get a free annual report at www.annualcreditreport.com
Pro Tip: Avoid opening new credit lines 3–6 months before applying for a mortgage.
2. Gather the Right Documents
Lenders require documentation to verify your income, assets, and debts. Be ready with:
Pay stubs from the last 30 days
W-2s or 1099s from the last two years
Federal tax returns (2 years)
Bank and investment statements (2-3 months)
Driver’s license and Social Security number
3. Calculate Your Debt-to-Income Ratio (DTI)
Most lenders prefer a DTI of 36% or less, though some allow up to 43%.
Formula:Monthly debts ÷ gross monthly income × 100 = DTI
Include debts such as:
Car loans
Student loans
Credit card minimums
Other mortgages or housing payments
4. Work With Normandy Homes’ Preferred Lenders (If Applicable)
Normandy Homes often offers closing cost incentives or interest rate buydowns when you finance through their preferred lenders.
Advantages:
Streamlined process with builder and lender coordination
Pre-approval tailored to builder timelines
Potential for lower fees or upgraded features
Be sure to compare terms with outside lenders to ensure you're getting the best deal.
5. Stay Within Your Budget
Getting approved for a higher loan amount doesn’t mean you need to spend that much.
Stick to a comfortable monthly payment that includes:
Mortgage principal and interest
Property taxes
Homeowner’s insurance
HOA dues (if applicable)
6. Avoid Major Financial Changes During the Process
Once pre-approved, don’t do anything that could change your financial profile, including:
Changing jobs
Buying a car
Making large deposits without documentation
Missing any payments
These could delay or cancel your final mortgage approval.
7. Request a Mortgage Pre-Approval Letter
After you’re approved, ask for a formal pre-approval letter to show to Normandy Homes. This proves you're financially qualified and ready to move forward.
Ensure the letter includes:
Loan amount
Loan type (Conventional, FHA, VA, etc.)
Expiration date
Lender contact info
🏘️ Ready to Buy a Normandy Home?
Normandy Homes builds in sought-after DFW communities like Frisco, McKinney, Celina, Allen, and Prosper. Their homes are known for quality finishes, energy-efficient features, and modern layouts.
👨💼 Work with Nitin Gupta, Broker Associate
As a relocation and new construction expert, I guide first-time and repeat buyers through every stage of the process—from pre-approval to final walkthrough.
Certifications:
Accredited Buyer’s Representative (ABR®)
Certified Residential Specialist (CRS)
Graduate, REALTOR® Institute (GRI)
Contact us:https://www.nitinguptadfw.com/contact
Call us at 469-269-6541 for more information about Frisco real estate!
FIND A LUXURY HOME IN FRISCO, TEXAS WITH NITIN GUPTA, BROKER ASSOCIATE, REALTOR®.
When purchasing a luxury home in Frisco, Texas, it’s essential to consider factors such as location, architectural style, security, and amenities to ensure the home meets both lifestyle and investment needs. By selecting a property in a prestigious neighborhood with numerous amenities and security measures, buyers can ensure they’re making a valuable and rewarding investment in the vibrant Frisco market.
For those looking to invest in luxury homes in Frisco, Texas, Nitin Gupta is an expert real estate professional ready to assist. Known for his extensive experience, market insights, and numerous awards, he is committed to finding his clients the best properties in the area.
Contact Nitin Gupta at 469-269-6541 or send a message today to explore exclusive listings and secure your ideal luxury residence in one of Frisco’s elite communities.
