|
Loan
Preapproval When
you're under contract to buy a property, having your mortgage application
denied (after waiting several weeks) may cause you to lose the property
after having spent hundreds of dollars on loan fees and property
inspections. Even worse, you may lose the home that you've probably
spent countless hours searching for and a great deal of emotional
energy to secure. Some house sellers won't be willing to wait or
may need to sell quickly. If the sellers have other buyers waiting
in the wings, you've likely lost the property.
For
assistance contact
Audrey
Poursine |
Audrey
Poursine
Mortgage Advisor
Cell 314-753-4688 | Email
|
|
|
How
could you have avoided this heartache?
Well, you may hear some people in the real estate business, particularly
real estate agents and mortgage folks, advocate that you go through
mortgage pre-approval.
Loan pre-approval is based on documented and verified information
regarding your employment, your income, your liabilities, and the
cash you have available to close on a home purchase. A loan pre-approval
is an approval based on a complete credit profile.
Going through the pre-approval process is a sign of your seriousness
to house sellers -- it places a sort of a Good Borrowing Seal of Approval
on you. A lender's pre-approval letter is considerably stronger than
a pre-qualification letter. In a multiple-offer situation where more
than one prospective buyer bids on a home at the same time, buyers
who have been pre-approved for a loan have an advantage over buyers
who haven't been proven creditworthy.
Coldwell Banker Home Loans offers no cost, no obligation approvals
so you can buy or sell, and buy with confidence.
|