Why Get Pre-Qualified
Getting pre-qualified when shopping for a home, is the best thing that you can do before hand. Knowing without a doubt that your financing is secure when you are out researching for the perfect home, can alleviate tons of stress. It can save you time and money.
Pre-Qualified VS Pre-Approved
These two things have proven to be misused and misunderstand buy home buyers, and ever sellers. There is a big difference between the two, and it is important to know what those difference between the two.
What does Pre-Qualified mean?
Pre-Qaulified basically means that the lender has taken a snap-shot look at your at scenario. It usually includes length or employment, debt, savings, employment, and will be reviewed by an underwriter to determine final eligibility.
What does Pre-Approval mean?
Pre-Approval takes it a step further for you. It is written documentation provided by the lender showing that they are able to offer financing to you. The supporting documentation has been reviewed and approved by an underwriter. Based on the income, debt, savings, and employment of the borrower, the underwriter have deemed them eligible for a loan. This is the point which they are able to give you a loan amount, and also an idea of the rate.
Contact a Loan Officer NOW!
Rachel Prevost- I have worked with Rachel, and have continually been impressed by the excellent customer service. Feel free to Reach her, and find out more about the loan process at http://www.rachelprevost.com. Or call her (512) 924-3663.
Anthony Campos-I have worked with Anthony for several years, and have been given good feedback from several clients. Feel free to reach him via email acampos@landmtg.com or by phone (512) 583-0189.
