Pre Approval vs. Pre Qualification....

Mortgage and Lending with 1st Colonial Community Bank NMLS #149277

The Benefits of

Pre-approval, as opposed to pre-qualification, signifies that the loan application has been taken through a rigorous procedure.

Heres why pre-approved buyers are ahead in the home buying game:

  • If you make an offer on a home and then apply for a loan, you are at the lenders mercy, who is aware that you do not have time to shop around.

  • Pre-approval saves time spent looking at houses you cannot afford.

  • A pre-approval letter from a lender gives you an edge when multiple offers have been made on a house.

  • Pre-approved buyers can generally close escrow more quickly, since most of the work has already been done.

Information provided by:

Richard and Carol DeGrace ~

Rich's Cell 609-209-3700 | Carol's Cell 609-209-3800

1810 Springdale Road, Cherry Hill, NJ 08003 | NMLS # 149277, 149276

Equal Housing Lender. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.

I respect your privacy. If you'd prefer not to receive information from me in the future, please reply to this email.

Posted by

Carol and Richard DeGrace                               

Vice Presidents

NMLS # 149276, 149277

Aurora Financial Group Licensed Mortgage Banker NJ/PA Dept of Banking

and Insurance NMLS# 7096

Aurora Financial Group


9 Eves Drive

Suite 190

Marlton, NJ 08053

Phone: 856.596.6200, Ext 109

Carol cell: 609.209.3800


Rich cell: 609.209.3700

Efax: 856.355.4757




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Richard DeGrace

NMLS # 149277, Camden County, NJ Loan Officer
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