|The Benefits of Pre-Approval|
|Pre-approval, as opposed to pre-qualification, signifies that the loan application has been taken through a rigorous procedure. Here’s why pre-approved buyers are ahead in the home buying game:|
If you make an offer on a home and then apply for a loan, you are at the lender’s mercy, who is aware that you do not have time to shop around.
Pre-approval saves time spent looking at houses you can’t afford.
A pre-approval letter from a lender gives you an edge when multiple offers have been made on the house.
Pre-approved buyers can generally close escrow more quickly since most of the work has already been done.
For self-employed borrowers, employed in sales, paid by commission, or owns rental real estate:
Different programs require varying amounts of documentation. The loan program you select may require more or less documentation. Please contact here our Mortgages Partners for a free, no-obligation consultation.