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PRE-APPROVED OR PRE-QUALIFIED? KNOW THE DIFFERENCE

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Pre-approved or pre-qualifiedRodney Jaleco15 days agoOpinionLeave a comment36 Views

Pre-Approved or Pre-Qualified? Know The Difference Do you already have a pre-approval letter from your lender or pre-qualified on the mortgage loan?  Huh?  This is usually the reaction of my potential buyer clients on my initial phone calls with them.  I can’t blame them as same reaction I had when I bought my first home.  I had no idea what my realtor was talking about.  Due to social media nowadays, a lot of buyers are well informed and sometimes get too much information; the more they get confused. Let’s make it simple by starting with the basic. You have a good stable job and earning well; took care of your credit for years so most likely you know you can be a good candidate to buy a property.  Before even looking or surfing on the internet; contact a loan officer or go to your bank for a pre-qualification or pre-approval process.  No need to go from pre-qualification if you can go directly to pre-a…