Century 21 Affiliated
Barry Shaw - CENTURY 21 Affiliated

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Barry goes above and beyond for each client whether buying or selling, regardless of the price point. WI and MN Licensed.
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There are a lot of steps involved in successfully buying a home. For many buyers, one of those steps is getting a mortgage pre-approval letter.

But not every buyer knows what, exactly, a mortgage pre-approval letter is, or whether they need one for their home purchase.

So what is a mortgage pre-approval, and do you need one?

A recent article from realtor.com answered common questions about mortgage pre-approval letters, including:

What is a mortgage pre-approval letter? A mortgage pre-approval letter states that your lender is willing to lend you money to buy a home, up to a specific amount. A mortgage pre-approval is a guarantee from a lender that — based on the financial information you shared with them and they verified, like pay stubs and credit reports — they’re willing to move forward with your loan.

When do you need one? Ideally, you should get a pre-approval before you even start looking for a house. That way you’ll know how much you can afford and focus your search on homes you can actually buy, rather than falling in love with one only to find out it’s not within your budget. Besides, you will certainly need one when you make an offer on a house, so it’s better to have it in hand before you’re in that position.

Under what circumstances do you not need a mortgage pre-approval letter? Unless you’re paying for a home outright with cash, you will need a pre-approval. But keep in mind that you’ll still need “proof of funds” when using your own savings to purchase a house, so make sure to have formal documentation from your bank proving that you have the money you’ll need to make the purchase, and that it’s liquid and accessible to you.


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What my clients are saying  

Barry is the best in the business! He exceeds expectations and truly cares about the people he is working with! Thanks Barry, we look forward to working with you again.

 

~ Kelli Joy

"Great experience would use Barry again. All worked out well. Excellent experience."

 

~ Collette

First time home buyer, and he was great to work with! I will definitely be using Barry in the future! Best guy in the business!

 

~ Jon K.

"Pleasure to work with. Answered all of our questions and always responded promptly. Made his schedule flexible to fit ours. Overall great experience."

 

~ Brad

"Barry helped my husband and I buy our first house. A lot of people advised me when I started talking about the home buying process that it was very stressful and time consuming. Yes, it felt a little stressful but I have to say buying our first house was a smooth transaction. Barry was excellent with communication. I prefer using my email since I don't always have my cell phone on me. Barry was very quick at replying to all my emails and was always very polite. Barry was also very professional when setting up showings for us, showing the house and at closing. When we received a counter offer on the house from the owner I wasn't sure how to go about it. Barry walked me through all possible options. The options he gave with his opinions felt trustworthy (he wasn't just trying to make the sell). I also really liked that Barry was laid back. He has a calm and friendly demeanor, made him a pleasure to work with!"

 

~ Katarina

I chose to work with Barry because he was recommended by a good friend. Barry was amazing. The process went smoothly because he constantly kept us up to date on EVERYTHING. I have already recommended Barry to a few people.

 

~ Liz

I was purchasing this home from out of state and Barry carefully chose a beautiful home for me and my price range.He carefully listened and answered all questions and was always available.I would highly recommend him!This was the perfect place to come home to.

 

~ Mike

This realtor is more on selling your home and investing his time and money into it. He works with you and is very respectable of your home. I have not found another realtor that cares about you selling your home instead of how much money they make. He is the best by far!! I have also heard from others how nice this person is and how helpful he is; who goes out of his way to please!

 

~ KT N

Barry was wonderful to work with, especially as I was a first-time home buyer and being completely novice with the home buying process. From working with me on affordable homes and proffering advice, and knowing when it was right to delegate concerns as appropriate, Barry definitely knew my needs and interests in a home. His approach is no-nonsense. Definitely not pushy. On the contrary -- On the day I saw the home of my dreams, there were still a couple homes on the list to check out and he had asked me if I was sure I didnt want to see them. I'd said no, but it was fantastic he encouraged me to try one or two other homes. But even my mum has an old adage - when the right house is found, one knows straightaway that is the one. And he was very helpful for a post-sale issue too. Am most grateful! And he's right - living in Wisconsin is fantastic. Barry is highly recommended - again, much thanks!

 

~ David

If you are looking for a new home Barry Shaw is your guy. He is excellent! He found us the home of our dreams and helped us with all of our questions through closing. Thank you Barry!!

 

~ Robb

Barry understands all the emotions you go through when buying/selling your home. He responded to emails quickly. He set up home showings quickly for my husband and I to view. His negotiation skills are excellent. I highly recommend Barry to sell your house or find the house you always wanted! He found the perfect house for my family.

 

~ Jennifer

It was very enjoyable to have Barry show us houses in Prescott,WI. and surrounding areas. He was responsive in showing us the homes we were interested in, with no pressure. He was very helpful.

 

~ MC

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