mortgage financing and programs

Archive for September, 2010

Home Buying First Steps: Getting a Pre-Approval Letter

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Before you seriously begin your search to buy a new home it is best to arm yourself with a lender Pre-Approval letter. Why ‘guesstimate’ how much you can afford to pay for a home when you can know exactly how much financing you can obtain from a given lender. Keep in mind that a Pre-Approval is different from a Pre-Qualification. A Pre-Qualification requires no fact checking or verifying of information. A Lender Pre-Approval involves verification of your credit, employment, and financial information. It is a much stronger tool in negotiating an offer to buy a home. It also signals to your real estate agent that you are a well-qualified and serious buyer. A real estate agent will work harder on your behalf knowing that you are pre-approved.

If you would like a Pre-Approval letter to begin your search for a new home call us at 800-511-3330 and a Loan Officer from Acre Mortgage & Financial will get you started.

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