Getting “Pre-approved” for a real estate purchase.

Thinking of becoming a homeowner or looking at a new place?     Get pre-approved before making an offer or LISTING YOUR HOME!

Know the difference between being prequalified and pre approved, and focus your energy on accepting the former, but aggressively seeking the latter.

Do that and you’ve taken a huge step in buying the home of your dreams.

BEFORE LISTING our home for sale?  Yes!   In this aggressive market your home, if marketed properly and clean, could sell in the first hour.    If you are not financially ready to get into the next home it could prove disastrous.   Know where you stand with a good local lender suggested by your agent. Listen to your experienced agent, they know who will get the job done and who will not.    The online lenders offer the world for nothing….it is usually too good to be true.

Let us look at the difference between a “Pre-qualification” and a “Pre-approval.”

A mortgage pre-qualification is an initial assessment of a potential buyer, and often it’s not worth the paper it’s written on.

But a pre-approval goes deeper and involves a more thorough look into your income and expenses, including a look at your credit score.

If you go in blind, sellers will often ignore your offer if you find a Realtor who will make an offer without a letter from a lender.

 

Getting square on prequalified versus preapproved

streamlines the entire home-purchase process.

 

Using a loan officer that your agent recommends is critical to a streamlined purchase.  We have learned who to avoid and who will answer the late text or phone call with questions or answers.

 

My preferred lenders are:

Preferred Lenders

Steven Hedgespeth

Century Mortgage Company Louisville

502-753-4178

502-641-3762

steven@cmcloans.com

 

 

Jason Justice

Senior Mortgage Banker First Commonwealth Mortgage

502-554-9368

641-6368

800-837-3844

554-9386 Fax

jjustice@firstcm.net

 

 

Angela Floden

Mortgage Loan Officer

NMLS 56124

Statewide Mortgage

10221 Linn Station Road

Louisville, KY 40223

C: 502-802-0547

F: 502-400-2776

www.statewidemortgage.com

Search for those homes here:

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