Why should you be pre approved

If you are thinking about building a new home and or purchasing an existing home, you should be contacting a mortgage professional to discuss the different loan options that are available to you.

This step will help you determine how much of a mortgage you can afford along with the monthly payments that would be required to pay

Most realtors and or builders would require that you take this step before they are willing to allow you to sign a contract

If you aree ready to get started with the pre approval process please Go Here   

 Difference beteen pre qual and pre approval

The differnce between being prequalified and pre approved is huge. The prequalification is based off of unverified information, where the pre approval allows the lender to review all of your income and asset information and cross reference this information to the current product guidelines.  The lender should be able to issue you a letter of opinion which states the loan amount that you can qualify for. A pre approval is not a commitment to lend, it is purely a written letter which states that your credit,income and assets have been reviewed and verified.

For additional information about the pre approval process Contact us