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3 Comments on Mortgage Qualifications
Yvette and Dennis,
You are so correct about this. I advise all my clients and agents that I need to re-prequalify them every 2 to 3 months depending on their situation. It is the only way to know if you have a qualified buyer!!
Very valid points. Lending guidelines are changing all of the time. In addition, many borrowers do not get familiar with all of their options prior to speaking with a loan officer. Having some general knowledge is very important. I recommend the following read for all new prospects...
LOAN SHOPPING GUIDE LOAN OPTIONS CLOSING COSTS FAQ
Reading these at a minimum will arm the borrowers with enough information to have an intelligent conversation with a loan officer.
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Nothing is worse than having buyers fall in love with a home that they can't buy. No other house will then be good enough.