Get pre-qualified, or get pre-approved? |
If you're considering the purchase of a new home, you may be concerned with the issue of finance. Attaining the right mortgage is a key step in the home buying process, but it doesn't have to be a stress-inducing one. Most lenders offer prequalification, pre-approval or both to help you know where you stand. Let me explain the difference between prequalification and pre-approval:
Regardless of which option you utilize, or even if you take both steps, you'll be able to shop with much more confidence. Why wait until you find the perfect home to discover problems with obtaining a mortgage? If you would like more information on how either process can help you get into the home of your dreams, give me a call. I'd be happy to answer any of your real estate needs. |
Bean Group | Brin Realty Associates - Amherst, NH
Amherst NH homes and Southern NH real estate
Hi Saul, We always require a preapproval when working with a buyer...we want to know a lender has run their credit and its a stronger position for the buyer...thanks.
Nov 27, 2010 03:04 AM
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home
Good Morning Saul
Thanks for the post and differentiation of pre-approval and pre-qualification. Have a great weekend.
Nov 27, 2010 03:04 AM
Century 21 Aadvantage Gold, 702-719-2100 - Las Vegas, NV
702-521-1442
Bob Amato of Empire Home Mortgage Inc - East Meadow, NY
Saul,
Good post for the novice buyer to know. I typically get all clients pre approved before sending overa letter. This way at least I know they can obtain financing and all parties involved do not waste their time, effort and money.
Nov 27, 2010 03:10 AM
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