Home Buying in Bear>Question Details

Angie, Home Buyer in Bear, DE

Pre-approval or good faith estatement?

Asked by Angie, Bear, DE Thu Mar 26, 2009

Which is better when starting to house hunt, pre-approval or good faith estatement?

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At the beginning of your search you request a preapproval from your lender. A preapproval is a document from a lender used in conjunction with making an offer on a home giving the sellers confidence that you are qualified to purchase their home. A good faith estimate is a document disclosing the fees that are expected to be incurred at settlement. You will receive this after you apply for the loan on a particular house. Hope this helps. Feel free to contact me with any questions or concerns you may have.............................chris

302-562-0628
patakirealestate@gmail.com
0 votes Thank Flag Link Thu Mar 26, 2009
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