June 21, 2018

Pre-Qualified or Pre-Approval?

With the spring housing market heating up, you may want to make an offer on a house without a condition on financing.  I wanted to clarify how to receive a valid Pre-Approval.  I have had 2 referrals lately that told me that they had been pre-approved for their mortgage, when in fact it was as good as the paper it wasn’t written on! Typically, when you go to your lending institution stating you are buying &/or selling a home, they will take your basic information, crunch some numbers and tell you what amount you qualify for.  Unfortunately, this is not…

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