preapproval: Understanding Pre-Qualify vs Pre-Approval
- 10/24/23 09:52 AM
Understanding Pre-Qualify vs Pre-Approval vs Final Loan ApprovalMinneapolis / St Paul, MN: In the mortgage lending world, lot's of terms get thrown around, a lot of time causing confusion.
YOUR VERY FIRST STEP in the home buying process is getting approved for financing, so here we will explain the differences in mortgage loan approvals, so both you are your Real Estate Agent know where you really stand with correct terminology.
Mortgage Pre-QualificationThis is where most people start in the mortgage process, with a basic mortgage pre-qualification. This is a quick assessment to determine whether your income, credit, and debt-ratio may fit current home … (1 comments)
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preapproval: National Homeownership Month
- 05/19/22 12:34 PM
June is National Homeownership MonthMinneapolis, MN: We all need a place to live. While renting works for many people, especially short-term, homeownership has a well documented history of major benefits, proving why throughout history so many people are eager to buy a home.
From a place to call home, lay down roots to raise a family, being able to have a dog, and crank up the stereo without being yelled at, to building wealth, nothing beats homeownership.
We all know that real estate is one of the best ways to build wealth. A recent Federal Reserve survey found that the medium net worth … (2 comments)
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preapproval: Pre-Approval, Your housing offer winning ticket
- 04/21/22 09:10 AM
Today’s competitive housing market requires buyers, lenders and real estate agents to act fast. 💥
Your winning ticket to buying a home in Minnesota is getting pre-approved with Joe Metzler at Cambria Mortgage.
A strong pre-approval letter from a local lender that Real Estate Agents know puts your offer way ahead of others, especially if your letter is from out state, or worse yet, big internet lenders.
Don't lose out because you picked the wrong lender!
Be prepared to buy ahead of time so you can act quickly with confidence. Ready to get started?
Reach out to us at (651) 552-3681 or apply online at https://JoeMetzler.com/application
NMLS … (2 comments)
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preapproval: 5 things you should do to get ready to buy a home
- 04/15/22 12:08 PM
Minneapolis, Minn: Buying a new home is an exciting prospect. Make sure you don’t hit any potential bumps along way by following our tips below, especially you first time home buyers.
Examine Your FinancesObviously purchasing a home is a large financial decision. Taking a look at your monthly expenditures and your debt is a great way to get started in the home purchase process. Take a look at where your money is going every month; figure out where you can make changes in your spending or cash flow that’ll increase the money you can dedicate toward saving for a down payment. Look … (3 comments)
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preapproval: Coping with home buyer heartbreak
- 04/12/22 10:54 AM
Coping with home buyer heartbreakMinneapolis, MN: If you’re out and about in today’s housing market, when we reference “home buying heartbreak” you likely know exactly what we are talking about. Navigating today’s housing market is anything but a honeymoon. Buyers are seeing multiple offers to compete with on nearly every home, contract terms are tricky and it’s rare to see a home go for less than list. With that said, missing out on a home is not uncommon. You know what they say, think with your head and not your heart… But it isn’t always that simple – we get it. Here’s … (2 comments)
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preapproval: Navigating home buyer fatigue
- 09/22/21 07:42 AM
Minneapolis, MN: Navigating today’s housing market is anything but simple. Buyers are seeing multiple offers to compete with on nearly every home, contract terms that heavily favor the seller and it’s rare to see a home go for less than list. This market requires buyers to be quick on their feet and act fast with a solid offer in hand. Even with a solid offer, buyers have to be ready to negotiate to win that bidding war. With that said, all the moving parts of a seller’s market can be a recipe for burnout. If you’re feeling the fatigue of this … (0 comments)
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preapproval: Are you searching for your dream home?
- 08/26/21 08:36 AM
Are you searching for your dream home?Maybe you've just found it, and are wondering what's next?
A good first step is to always pre-qualify for a mortgage so you know how much you may be able to borrow. A pre-qualification also is required to make an offer, and lets sellers and real estate agents know you are a serious buyer who can get a loan.
3 Easy Steps to Mortgage Pre-Approval:It is super quick and easy to get pre-qualified. You can apply today, and get an answer today!
Complete the loan application. You can apply online, via your smartphone, in office, or over … (1 comments)
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preapproval: The Tool Clients, Realtors & Mortgage Lenders Are Raving About
- 07/27/21 02:06 PM
Minneapolis, MN: It’s no secret that our world operates on the principle of instant, fast and seamless. To be expected… Client, realtor and lender expectations are built on the same foundation. As a company, we are proud to offer the tools and technology that allow us to meet and exceed the expectations of the modern consumer. We have what clients, realtors and lenders are raving about… The Cambria Mortgage Mobile App.
To continue to offer the absolute best experience possible as the industry rapidly changes, we launched a brand new mobile app and online loan application in the beginning of 2021. Here … (0 comments)
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preapproval: The Pre-Approval Advantage
- 11/26/19 01:08 PM
Why should I be pre-approved for a mortgage loan?
Minneapolis, MN: In recent years, mortgage guidelines were tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the initial process and uncovers any potential pitfalls long before you become obligated by a contract to purchase.
What Advantages will I have once pre-approved?
You'' be certain about the price range that's best for you. You'll know how much cash you'll need to close, and you'll know your estimated monthly payment. Understanding your limits will help you negotiate with confidence. Plus, since sellers like a sure thing, you'll have an advantage … (0 comments)
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preapproval: All this snow will make the market hot
- 03/06/19 03:08 PM
Minneapolis, MN: Are your tired of the snow yet? Record amount of snow, including the most snow ever in February here in Minnesota, along with continued below average temperatures is expected to delay the local spring this year.
As many people, both buyers and sellers come out of the woodwork to purchase or sell a home in the spring, a delayed spring will probably mean a more compressed shortened 'spring' buying season, and therefore a more competitive spring market.
Understanding the markets, and being prepared for what this means can translate nicely into a more stressfree and happy transaction.
Be prepared to look at … (2 comments)
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preapproval: Do Mortgage Pre-Approval Letters Really Mean Anything?
- 10/16/18 09:30 AM
Do Mortgage Pre-Approval Letters Really Mean Anything?Minneapolis, MN: When buying a home, everyone will tell you that you need a Pre-Approval Letter, and pretty much no sellers will look at your offer without a Pre-Approval Letter being attached to your offer. But do Pre-Approval letters really mean anything?
The correct answer is yes, no and maybe.
The intent of a pre-approval letter is incredibly valid in the home buying process. It is designed to inform a potential home buyer that their odd's of final loan approval is strong. For sellers and Real Estate Agents, it tells them the buyer has met with a Loan … (1 comments)
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preapproval: Home shopping? Get Pre-Approved First
- 06/13/18 12:08 PM
Home shopping? Get Pre-Approved First
Minneapolis, MN: People often make the mistake of starting a home search without knowing what they actually qualify for. Falling in love with a $400,000 home and finding out you qualify for $200,000 can be heartbreaking. Thinking a loan approval will be easy, only to find out you have issues, or don’t qualify for a program you think you do, is another concern.
Virtually no Realtor will show homes to clients who have not been pre-approved, and virtually no seller will accept any offer without a pre-approval letter for this very reason. Being pre-approved gives both … (1 comments)
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preapproval: Market harder for low end first time home buyers
- 04/27/16 12:57 AM
First-time home buyers finding it more difficult to buy
Minneapolis, MN: It's going to be a tough home-buying market this spring, especially for first-time buyers or even people looking to move up into a just slightly more expensive home. As the housing market continues to improve, we again are starting to see it become harder for first-time buyers to enter the housing market due to low inventory, and home prices starting to climb.
Starter homes are increasing in value faster than move up homes. The availablility of what most markets would consider starter homes is down 10 per cent so far this year … (1 comments)
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preapproval: Beware of automated mortgage pre-approval sites
- 10/16/15 05:30 AM
It's 2015. I understand the daily advancements on computers, technology, and convenience. Popping up all over are sites that that claim the ability to "allows home shoppers to get pre-approved quickly and easily." Instant pre-approval sounds cool.
But when it comes to home buying, potential home owners should be extremely wary of trusting any web site offering automated mortgage pre-approval tools.
The Traditional Mortgage Loan ProcessThe traditional process is you complete a loan application. A real live person reviews the information, talks to you about your situation, uses knowledge and expertise to explore all avenues and issues. Then your file is run through … (1 comments)
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preapproval: The Importance Of Full Lender Pre-Approval
- 07/13/15 01:00 AM
The Importance Of Full Lender Pre-Approval
Minneapolis, MN: Initial mortgage loan pre-qualification and full lender pre-approval are two of the most important steps you can take towards owning a new home. In most areas, Real Estate Agents either won't even show you homes, or for sure, will not let you make an offer on a home without a full lender pre-approval.
Basic Pre-QualificationPre-qualification is the first step to securing a home loan. Essentially, it is an initial "how do you look", and "feels good" start. Pre-qualification is quick and involves completing a mortgage application, answering only a few questions about your income, … (0 comments)
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preapproval: Know the difference of mortgage pre-qualify versus pre-approval
- 07/03/14 12:23 AM
Mortgage Pre-Qualification versus Mortgage Pre-Approval Getting an initial Mortgage Pre-Approval BEFORE you speak with a Real Estate Agent just makes sense.
A good first step is to complete the online application, or speak with a Mortgages Unlimited loan officer who will help you determine what loan programs are available to you, how much home you can afford, what the payments might look like, and how much money you'll need to make it all work. This will ensure that you begin your search as an educated buyer, and can talk confidently with your Real Estate Agent about an appropriate home search.
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preapproval: Are you really Pre-Approved to buy a home? How to tell.
- 10/03/13 06:53 AM
Minneapolis, MN: Seems like every week I get a new client, who has been working with another lender, and suddenly, their mortgage application was denied very close to closing. A common statement they make is, how can that be, I was Pre-Approved?"
THE APPROVAL PROCESS
So are you really approved? The answer is yes and no. Under the standard procedure most lenders follow is that the loan officer takes an application. Next the loan officer should pull credit. This should give the lender a good preview of the potential final outcome. Many lenders will give a pre-approval letter at this point, … (1 comments)
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preapproval: Lack of good quality homes for sale causing problems
- 03/30/13 12:03 AM
Minneapolis, MN: Who would have thought we would be saying this, but strong demand for housing is now running into supply problems, according to the National Association of Realtors® (NAR), and what I see and hear from my mortgage clients everyday. Homes For Sale: The lack of quality supply in homes for sale, especially in the under $150,000 price range in the Minneapolis / St Paul area if very evident with the number of clients unable to find a home that doesn't need a lot of repair. Any home in good condition, and priced right for today's market is selling … (1 comments)
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preapproval: Are you wasting your Realtor and Loan Officers Time?
- 10/10/12 10:41 PM
Serious Home Buyer? Minneapolis, MN: As a professional licensed Loan Officer, I encounter people everyday that say they want to purchase a home. But when it comes down to it, they may not be ready for that responsibility of a home, or they are can not get pre-approved for a home loan. In our society, it seems everyone wants everything now. Learning that it may take a little time and some effort on the buyers part frustrates many of them them. Being told "no" simply doesn't register. It amazes me the number of people who apply with me, and when I … (1 comments)
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preapproval: Stop Renting - Busting a few myths about buying a home
- 12/18/11 11:53 PM
No more excuses. Go buy a home!
The housing market has changed dramatically, and everyone should be taking advantage of some of the most affordable home prices, and lowest mortgage rates in history. You may be hearing a lot in the news today that in some markets it is cheaper to own than it is do rent. It's true!
Stop listening to the doom and gloom drum beat the media plays. Bad news sell newspapers, so that is the spin they like to portray.
Common myths and misconceptions may be holding you back but shouldn't.
My credit is not the best … (5 comments)
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Understanding Pre-Qualify vs Pre-Approval vs Final Loan ApprovalMinneapolis / St Paul, MN: In the mortgage lending world, lot's of terms get thrown around, a lot of time causing confusion.
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