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Home » Financing Options » Get Pre-Approved

Get Pre-Approved

Does it Help to be Pre-Qualified by a Lender?

The pre-qualification process can be completed fairly quickly, based on less information than is required for getting pre-approved. While it is fast and it does help, a pre-qualification letter is an opinion from a lender of the maximum amount of real estate you can qualify for. In a competitive seller’s market, an offer from a buyer with a pre-qualification letter could lose out to a person who is pre-approved.

Get Pre-Approved by a Lender

There are several benefits to going the extra mile and getting a pre-approval letter. First of all, you will know exactly how much real estate you can afford. When you find a property you want to buy, your offer will be in a better positioned than someone less prepared. Finally, being pre-approved is more efficient; it reduces the amount of time it will take your lender to fund your loan. Be prepared to provide comprehensive documentation, which the lender may independently verify, including but not limited to:

  • Job and career status
  • Income
  • Monthly debt payments
  • Cash available
  • Total assets and debts

A Little Something About Us

About Image
It is with great pleasure that Douglas welcomes you to North Carolina, and to his website.

With over thirty years of experience in real estate, Doug has had a varied career in virtually all aspects of the real estate industry. He spent the first 25 years working in the Commercial, Industrial and investment sector while running his own company in Michigan.

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Mountain West Real Estate LLC | Live the Difference main Sotheby Homes
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