Art & Debbie DeBrito

 

There are two levels of achieving this. Pre-qualification and Pre-approval.

 

Pre-qualificaiton is a simple report from a lender that indicates they have initially reviewed your credit and qualifications and determined that you have the ability to afford an amount of loan. It takes very little time speaking with a lender to determine this value. The lender then produces a pre-qualification letter that can be presented to any seller, indicating you are a viable candidate to purchase their home.

 

Pre-approval on the other hand is a more indepth process that gathers more detailed infomation regarding your financial condition. The result of this also produces a report which will provide a specific amount that you will be able to obtain. It also eliminates most unexpected barriers you might run into regarding the loan process. It also presents a stronger reason why the seller should select your offer over others' offers.

 

Contact us if you would like more information.

 

 

Click here to view a Uniform Credit Application, which is a common tool for home loan application.