Home Buying in Hanceville>Question Details

Jessica, Home Buyer in Hanceville, AL

i have a prequilfie letter what do i do next

Asked by Jessica, Hanceville, AL Sat Jan 15, 2011

Help the community by answering this question:


As a Mortgage Professional I say that the Pre-Qualification letter is a good start, but also make sure as you are looking for a great Realtor to also make sure you are Pre-Approved. There is a huge difference!
Pre-Qualification usually means that the mortgage professional has come up with a maximum value you could qualify for with the information you have told them.
Pre-Approval means that they have actually looked at your situation and all of your documentation to make sure you can back up what you said and then compare it to underwriting guidelines either through an automated underwriting system or in comparison to written underwriting guidelines.
Pre-Approvals are the way to go!

Sean Wait
"I Earn My Referrals"
Read my Blog at: http://SeanWaitHomeMortgageMinnesota.WordPress.com/
Senior Mortgage Planner
Cell (612) 850-2279
Office (651) 994-1900 Ext. 15
Fax (651) 994-9666
Check out my website at http://www.SeanWait.ValuedLender.com
0 votes Thank Flag Link Wed Jan 26, 2011
Hi Jessica,

Yes, you should find a Realtor that you can trust.
The agent you choose will assist you in finding a home that will suit your needs and your budget.
Of course, my advice is to shop below the amount you are quailfied for. In doing this you will have a safety net for any other expenses you might have later.
After all you will want to have the funds for decorating your home, etc.
Please let me know if I can be of any assistance to you.
Camille Love
Cullman Real Estate
0 votes Thank Flag Link Wed Jan 26, 2011
Al Rosser answered:
What Dave said is exactly right..... Find a REALTOR that you trust, above all! Your REALTOR is the glue that holds the entire transaction together. They are the ones who should advise you of all of your options and choices at every turn of the transaction. Your REALTOR is essentially your representative to the other professionals in the transaction. Although you have already chosen a lender and you will hire your own home inspector, your REALTOR is still the one that should be looking out for your best interest, even with them and their responsibilities in the transaction.
Honestly, all REALTORS have access to the same information for your market and all of the same properties that are on the market. What differentiates one agent from the next is their integrity and their attention to your transaction.

Good Luck....and Happy Home Buying!!

Also reference my blog post on Homebuying: Understanding the Mortgage Loan Pre-Approval Process below
0 votes Thank Flag Link Sat Jan 15, 2011
Congrat's next step contact a Realtor here on Trulia direct who can assist you in locating your home !

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Sat Jan 15, 2011
Search for good Realtor that is going to be the right fit for you. You have what you can qualify for. My advice is to make a list of your wants and nots in a home. Let the Realtor know where you want to look....certain neighborhoods, school districts or convience to places.... They should be able to give you everything that meets youR criteria at and below your price range......

If they will not find another Realtor
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Sat Jan 15, 2011
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