A lesson on loan pre-qualification

Hunting for a new home? Pre-qualification can be an essential component of your home search. Here’s why.

Mortgage pre-qualification. Why does it matter? Let me see if I can frame it this way…

Has ever happened to you? You’re out with friends and decide to grab dinner. There’s a new place in town you’ve heard is fantastic.  Rave reviews, amazing cuisine.  Everyone’s excited. 

You drive over, pay for parking, and sure enough, there’s a crowd. The atmosphere is perfect, the menu looks incredible.  Mouths water, you can’t wait. You step up to put your name on the list and the hostess says: 

“Name for your reservation?”

Reservation?  I had no idea they were required!”  Awkward apologies.  They’re booked and you’re out of luck.  Not even a seat at the bar.  It’s embarrassing.  Your friends are disappointed.  So much for your recommendation.

It’s not so different when you’re thinking of buying a home and you haven’t spoken to a mortgage professional in advance.  You can search, find the right home, negotiate a contract… then uh-oh. You find out you aren’t qualified.

If you’re thinking about beginning a home search soon, let me help you avoid disappointment.  You'll get a picture of your credit score, the type of rate you’d pay, plus get the chance to correct any errors or problems on your credit report.  A pre-qualification letter can have a direct impact on your ability to negotiate, too.

Below are the names of two lenders we know and personally trust.

Steve Hill and Sandra Brenner
Best In Client Satisfaction
Windermere Real Estate
BrennerHill.com
Windermere Housing Trends Newsletter
call/text 206-769-9577

Our Preferred Lenders

George Runnels
Washington First Mortgage
WaFirstMortgage.com
call/text: 206-604-4545

Jackie Murphy
Cobalt Mortgage
CobaltMortgage.com
call/text: 425-260-6834

 

Posted on October 5, 2013 at 11:02 am
Steve Hill and Sandra Brenner | Category: Home Loan and Mortgages | Tagged , , , , ,

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