Pre-qualification and pre-approval are two of the most important steps you can take towards owning a new home. Obtaining both pre-qualification and pre-approval allows you to begin searching for a new home with your potential loan established and accepted in advance.
Pre-qualification is the first step to securing financing. Â Pre-qualification is quick and involves answering only a few questions about your income, existing debt and accumulated savings. It is also important that we discuss your long-term financial objectives. With so many loan options available, we want to select the one that meets your goals. Begin to determine which loans are the best candidates for your current financial situation and long-term objectives.
Pre-approval occurs immediately after Â determining Â which loan program would fit you best. This is written documentation showing that a lender will fully support and endorse you for a loan amount established by the underwriter.Â
With a pre-approval you have Â strong negotiating power because the seller will take your offer more seriously. A lender's pre-approval will often convince the sellers to accept a lower offer for the home because they know the financing is in place and the deal is safe.
SecureÂ Pre - APPROVALÂ today and start shoppingÂ
Debra McAlister-Brown, P.A., CDPE, SFR, RSPS, PMN, WCR, CIPS, CREN
International Luxury Home Marketing Specialist
Florida Home Realty