approval: Difference between approval and qualification to buy a home? - 08/21/14 11:27 PM
What's the difference between an approval and qualification to buy a home? This is a hot topic in the mortgage industry in North Texas. With low inventory and multiple offer scenarios, before an offer is accepted, a solid buyer is desired. I believe that vocabulary and knowing what work the loan representative has done is the problem. Let's define some of the vocabulary in the mortgage business about qualifying to buy a home:
 
Prequalification- Loan representative verbally collects annual income and amount of assets. Secondly, the representative will pull credit or ask for scores, ask additional qualifying questions, and then … (2 comments)

approval: It's not called a prequalification anymore in Texas. - 08/21/14 12:12 AM
If you are buying a home in Texas, get a "Conditional Qualification" (Form A). It's not called a prequalification anymore. If you want more detail about the form read my latest blog about the differences between Form A and B:
 
http://activerain.com/blogsview/4457939/making-an-offer-on-a-home-in-texas--get-this-or-lose-that-home-
 
If you are buying a home seek a licensed residential mortgage loan originator who you trust will review your complete financial situation. In Texas, contact Jimmy Smith for questions or a no obligation loan consultation.
 
 Jimmy Smith, NMLS#1089067
jsmith@alliancemtggroup.net, (214) 872-9091 Ofc
(2 comments)

 
Jimmy Van Smith, Residential Mortgage Loan Originator

Jimmy Van Smith

Residential Mortgage Loan Originator

Frisco, TX

More about me…

Address: 2726 Carmack Dr., Frisco, Texas, 75033

Office: 214-872-9091



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