Real Estate Agent with Century 21 Wright-Pace Real Estate

What is a Pre-Approval letter? I get this question ask alot, especially comes from First Time Home Buyers. What is so important about a Pre-Approval letter. As a Realtor let me help you with these questions. First of all, if you are a serious buyer it is a must to get pre-approved. This determines your borrowing power. We do not want to be looking at homes we can not afford, you need to know how much you are qualified for. Also, what type of loan are you getting, if it is a Rural Development you will not need a down payment, it is  100% financing, if it is FHA you will need at this time 3.5% down payment. It is very important to get with a lender and let the lender go over all your options. Pre-approval means your credit files have been reviewed and based on this  information the lender will give you a letter that has the terms and the amount you are Pre-approved for. This is the best way to shop for your home. This also allows the seller of the home you choose, to know that you are a serious buyer when the offer has been presented. NOW... is the BEST time to buy a HOME....the rates are at a all time low, so why not take advantage of it!!  

Posted by

Tinker Hulsey


If you are looking to buy or sell, please give me a call. I serve Jonesboro,Paragould,Bono,Bay,Corning,Harrisburg,and surrounding areas.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Arkansas Craighead County Jonesboro
Century 21 Network
Arkansas Real Estate
Century 21 Active Rainers
Anything Arkansas
first time home buyers
preapproval letter
i am looking for a house in jonesboro arkansas

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Tinker Hulsey

Century 21 Wright-Pace Real Estate
Ask me a question
Spam prevention

Additional Information