I recently began to work with buyers. They were not yet pre-approved and there were some issues to be worked out. They were working with a lender so we set out to find a house. Not one, not two, but three homes they have kinda liked have gone pending while waiting for the pre-approval letter.
So for those of you who call me and I ask if you are pre-approved and you try to give me a song and dance about cart before the horse and lender in your pocket.... learn a lesson from my client. There was house after house that fit the bill and he wanted, but while waiting on lender pre-approval those homes were sold to other buyers who got pre-approved before looking at property.
Pre-approval SHOULD come first.
If you call me I can give you a list of lenders you can contact about getting pre-approved. Yes, I have a list. Do I get anything if you choose a lender from my list? Well if you mean money.. no not from the lender. But I do get it is the benefit of knowing you'll be getting great service because the lenders that make my "list" have a record of getting my clients to closing. So what I get out of it, is the satisfaction of knowing my clients get great service.
Because there is more than one lender on my list and because different lenders on my list offer various loans that fit different types of property I'm not going to publish my list.... but call me and I'll be happy to email it to you or give you a name and number over the phone based on what you are looking to purchase.
Don't loose the house you want because you weren't prepared to make an offer complete with pre-approval letter.
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