How Are Pre-Qualifying And Pre-Approval Different?

By
Real Estate Agent with Steinberg Realty Group 9079562

How Are Pre-Qualifying And Pre-Approval Different?

 

Watch this video and it’ll make sense.

Pre-qualification is an informal way to see how much you maybe able to borrow. You can be 'pre-qualified' over the phone with no paperwork by telling a lender your income, your long-term debts and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the amount you may have available to spend on a house.

Pre-approval is a lender's actual commitment to lend to you. It involves assembling financial records and going through a preliminary approval process. Pre-approval gives you a definite idea of what you can afford and shows sellers that you are serious about buying.

 

To find out more information about buying or selling a home or to search homes for sale visit www.steinbergrealtygroup.com

 

Posted by


 

Laurie Steinberg(R)

508 922 2340

Lsteinberg@kw.com

www.steinbergrealtygroup.com

 

 

Laurie Steinberg is a top sales agent at Keller Williams Realty based out of Easton Massachusetts.  

Laurie has become known for her “Out Of The Box Marketing” style and approach that helps her sellers get their homes sold fast and for the most amount of money, while also helping her buyers with top of the market negotiating skills and being able to get her buyers available listing as soon as possible making sure her buyers don't lose their dream home.

 

Laurie Steinberg has over 15 years experience in Residential Real Estate Sales. Servicing Plymouth, Bristol & Norfolk Counties and specializing in the Bridgewater's, Middleboro, and Raynham Towns. Laurie holds her Accredited Buyer Representative Designations, Certified Distressed Property Designation, and has mastered Internet Marketing. Laurie also has been known for having one of the best Marketing and Selling Plans in the area. Laurie stays up to date with current technology and is always taking new courses/ classes to learn more about the local area markets and how to be the best Realtor(R). Laurie is committed to giving exceptional, professional and friendly service combined with great customer service that will build a relationship that will last a lifetime. Laurie’s goal is to meet and exceed all her clients expectations. in the Bridgewater's, Middleboro, and Raynham Towns.

 

Laurie is a mother of 2 girls and was born and raised in Bridgewater Ma, Laurie raised her children in Middleboro where they lived for 15 years and now reside back in Bridgewater, living in these areas has giving Laurie the knowledge she needs to help all her clients needs.For a custom market evaluation Click here

For an isntant market estiate Click here

To search all homes for sale Click here

 

 

Comments (4)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I try to explain this to people all of the time.  I always let the lender know that I expect them to explain this to the borrower.

Feb 28, 2015 07:19 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Laurie - Most buyers mistaken pre-qualifying approved for a loan.

Feb 28, 2015 12:13 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Laurie, this is needed information for all seeking home mortgages.  The term pre-qualified and pre-approved are definitely confusing. It's also necessary for them to understand that full loan approval may come late in the process.

Feb 28, 2015 12:50 PM
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

I really enjoyed your post, glad I came across it in the archives. Much Success for you in 2016.

Mar 24, 2016 02:16 PM

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