Financial Information

Getting Loan Pre-Approval

It is extremely important that you talk to a reputable lender early on in your search for a new home.  Your loan officer will review your financial position to determine the price range most suited to your ability to pay and your comfort level.  Notice that we didn’t say to find out how much you can be approved for – often, the amount you’re approved for is much different than what you’re comfortable with.  We will respect your desired price range regardless of your approval amount.
We have extensive experience with many unique loan situations such as self-employment income and works alongside you and your lender every step of the way to make sure there are no surprises at the closing table.

Benefits of Being Pre-Approved

  • You will know in advance what your payments will be.
  • You’ll have an estimate of your closing costs.
  • Select the best loan package without being under pressure – you want to decide on your budget before falling in love with a house.  Once you find a house you really like you’ll be tempted to stretch your budget more than you should.
  • There are many options and programs to choose from in today’s market. Your lender will explain the alternatives to help you select the one best suited for you.
  • Sellers will find your offer to purchase more favorable if they know in advance of your ability to secure financing. This will make your offer more competitive if you are in competition with other offers.
  • You will have peace of mind.
Don’t confuse being “pre-qualified” with being “pre-approved”.  Pre-qualification often results in disappointment once you decide to get official approval.