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Get Pre-Approved Not Pre-Qualified Before You Shop
Many people are confused about the difference between being pre-approved and being pre-qualified. There are big differences between pre-qualification, pre-approval, and actual mortgage approval.
Many people are confused about the difference between being pre-approved and being pre-qualified. There are big differences between pre-qualification, pre-approval, and actual mortgage approval.
Being Pre-Qualified for a Mortgage
If you want to just get an idea of how much you can borrow then all you need to do is get pre-qualified. At this point the lender only has your word on your credit, income, assets, and liabilities. An approval cannot be guaranteed strictly on your word. None of your information has been verified. The best the lender can give you is that you are likely to be approved for a mortgage.
If you want to just get an idea of how much you can borrow then all you need to do is get pre-qualified. At this point the lender only has your word on your credit, income, assets, and liabilities. An approval cannot be guaranteed strictly on your word. None of your information has been verified. The best the lender can give you is that you are likely to be approved for a mortgage.
The Better Solution
While you may feel confident getting pre-qualified for a loan, it doesn't guarantee that you will be approved for a loan. Our pre-approval* is based on your actual credit and verified information. When you have a pre-approval from us it can really put your Real Estate Agent and home sellers at ease. Another added benefit to you is the control you will have when putting an offer on a home. When the sellers receive your offer with a pre-approval letter they know they are dealing with a serious buyer and are more likely to give weight to your offer.
While you may feel confident getting pre-qualified for a loan, it doesn't guarantee that you will be approved for a loan. Our pre-approval* is based on your actual credit and verified information. When you have a pre-approval from us it can really put your Real Estate Agent and home sellers at ease. Another added benefit to you is the control you will have when putting an offer on a home. When the sellers receive your offer with a pre-approval letter they know they are dealing with a serious buyer and are more likely to give weight to your offer.
Conclusion
When you're ready to get pre-approved, you can call us or fill out the contact us section and someone will get back to you as soon as possible.
* With a pre-approval, your loan will close as long as the property gets a clear title, the appraisal supports the value of the home you are buying, and your financial situation remains the same as when you applied for your pre-approval.
When you're ready to get pre-approved, you can call us or fill out the contact us section and someone will get back to you as soon as possible.
* With a pre-approval, your loan will close as long as the property gets a clear title, the appraisal supports the value of the home you are buying, and your financial situation remains the same as when you applied for your pre-approval.
Testimonial |
The service I received was exemplary. I have already recommended them to my co-workers! |
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Joyce W.
(Elyria, OH)
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