Carpenter Real Estate Group

In an active market it’s good to be prepared to make an offer by arranging your financing ahead of time. Pre-qualifying can save you headaches and heartaches, of someone else beating you to the purchase of a home you have your heart set on, while you are still working on your financing.

 

Many buyers see information about pre-approval and think that going through the pre-approval process is enough to streamline their home purchase. It’s not true!

 

Pre-approved does not necessarily mean you will get your financing…pre-approval means your rate is guaranteed for a specified period of time, but it does not mean that you qualify for the mortgage.

 

Pre-qualified means your rate is confirmed and your employment income, credit and debt levels are within the limits of the financial institution. The mortgagor will at that time be able to tell you how much you can borrow and in what price range you should be shopping. Then you can be confident that when you find your dream home, you are prepared to make an offer and once accepted, proceed with the purchase.

 

Knowing the right steps can simplify the process of purchasing your dream home and cut down on your stress and confusion with the often unfamiliar purchasing process.

 

Our mortgage specialist will contact you and ask you to fill out mortgage application form. Once we receive this completed form from you, it will be submitted to a banks, credit unions and trust companies for them to bid on your business. Typically the final rate set will be .5% to 1% below the posted rate the institution would have charged if you walk in off the street. Mortgage specialists are available as a service to you, at no charge. They are paid by the financial institution.