|
|
 |
|
 |
|
| |
Financing Your Purchase
|
 |
|
Well over 90% of all residential real estate transactions involve some type of outside financing. Failure to obtain that financing is the number one reason deals fall apart prior to closing. Therefore, the first step you should take when beginning the search for your next home is to get pre-approved for a mortgage.
|
Pre-approval, as defined by erate.com, is “the process by which a potential buyer searching for property applies for financing with a lender for a stated loan amount on property yet to be determined. The application is then underwritten by the lender (based upon credit, income, employment and assets of the applicant) and when approved is subject to an acceptable appraisal, purchase contract, preliminary title report and other substantiating documentation once a property is located.” Don’t confuse that with pre-qualification, which is where you simply tell a lender your estimated credit score and income.
- There are six reasons why you should always be pre-approved before you go shopping:
- So you don’t fall in love with a home you later learn you cannot afford
- To narrow your price range, saving you the time of looking at houses that would stretch your budget
- So that you can act quickly when you do find the perfect home
- A pre-approval letter is an essential part of a strong offer
- It gives you plenty of time to shop lenders and get the best deal
- So you have ample time to hunt down any documentation the lender will require before fully approving you
The JANDD Group works with a number of lenders who have proven track records, excellent customer service, and a variety of loan programs. If you’d like, simply fill out the form below and we will put you in contact with these outstanding professionals.
|
|
|
|
|
|
|
 |
 |
Keller Williams Advantage II Realty, 12301 Lake Underhill Road, Suite 111, Orlando, FL 32828
Office: 407-393-5901 Direct: 407-222-8257 Fax: 866-380-0673
|
 |
|
