www.InFrontMarketing.com

John Reinhardt

REALTOR

770.475.1130  Ext.  6806

Before shopping for a home, you should get pre-approved by a good, direct lender.  This is a bank or mortgage company that originates, processes, underwrites, and closes the loan in-house.  This differs from a mortgage broker who originates but does not underwrite or fund the loan.

Pre-Qualification typically is based on an in-file credit report and a loan application.  Pre-Approval is based on a hard copy credit report (which reflects information from all three credit reporting agencies), verification of employment,  income, and funds to closes, and back up documentation required by your particular loan program.   Any conditions for loan pre-approval should be satisfied during this time.

When you are pre-approved for a particular loan program and price range, this is subject only to your finding a home and the lender's appraisal of the property.  Before making an offer on a home, you should have loan PRE-APPROVAL by a direct lender.