Mortgage Pre-Qualification
It’s important to obtain prequalification before executing a contract to purchase a property. For a mortgage pre-qualification, the lender compiles information regarding your income and assets, and pulls a credit report for review. A pre-qualification letter is issued showing the amount for which you are qualified, and the Realtor will submit the letter with your offer when you find the right property.
Please understand that the lender will take the information that you give about your income, assets and debts in order to obtain a prequalification. The pre-qualification is only as good as the information that you give, and is subject to the lender’s verification of that information during the formal application process.
It’s important for you to know the price range you can afford before you start shopping for a home. In this market, a seller will typically not accept an offer from a potential purchaser that is not prequalified.
Contact Rodney Anderson today and apply online for a no-cost, no-obligation pre-approval!
