1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.
2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.
Whether you're a first-time home buyer in search of your dream home, a seller looking to downsize or an investor looking for a great opportunity, working with a dedicated real estate professional can make all the difference. Our mission is to provide comprehensive real estate services, deliver unmatched customer service, and our genuine desire is to see your property goals come true. Our mission and services make us the go-to resource for all your real estate needs. For sellers, we take full advantage of Coldwell Banker's® marketing tools to ensure that your property is broadly promoted on a variety of channels, including major real estate websites, and our negotiation skills are second to none. For buyers, we effectively analyze the local market and target trends to help you find the perfect home at the right price. If you're looking for positive, helpful partners who are ready to provide you with exceptional service, let's talk NOW!