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 Are you pre-qualified or pre-approved for a loan?
Before you begin to shop for a new home, you should set up a time to speak with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That’s when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house.
EZ Applications: Our clients love our 12 minute phone application. We eliminate the stress and hassle of completing loan documents. We do it all!
Speedy Approvals: Most conforming home loans can be approved within 24 hours. No more endless waiting for a decision.
A pre-approval letter is not binding on the lender; it is subject to an appraisal of the home you wish to purchase and certain other conditions. If your financial situation changes (e.g. you lose your job), interest rates rise or a specified expiration date passes, your lender must review your situation and recalculate your mortgage amount accordingly.
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