prequalification for a loan: What do you mean, you need a letter from my Lender?
- 03/12/12 12:02 AM
Pre-Qualification AND Pre-Approval - in other words buyers have contacted a lender to see what they can afford. In my estimatation, there are too many buyers that are out 'shopping' with no means to 'purchase'. Getting a loan is totally different than it was a few years ago, where if you had a heart beat and fogged a mirror, you were considered a great buyer!
The real estate industry & it's sister mortgage industry have changed & it is even more important that you speak to a loan officer about what you can afford.
Just makes sense doesn't it?
My thanks to Tish … (0 comments)
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prequalification for a loan: It's a Loan Officer, Not a Serial Killer!
- 03/11/12 03:08 AM
This is such a great & timely post with the spring market upon us! Many buyers hear all the great news about afforability & the great interest rates which is all 100% TRUE! Problem is, all that looking on line & buyers still don't know what they can afford!
Don't put the 'cart before the horse' or should that be house! Talk to a reputable loan officer (NOT online!) about your finances & goals. They are there to help you through the maze of financing options. They really are your ally in the home purchase process.
Notice what all 3 scenarios have … (3 comments)
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Pre-Qualification AND Pre-Approval - in other words buyers have contacted a lender to see what they can afford. In my estimatation, there are too many buyers that are out 'shopping' with no means to 'purchase'. Getting a loan is totally different than it was a few years ago, where if you had a heart beat and fogged a mirror, you were considered a great buyer!
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