For homebuyers, knowing how much home you can afford should be the first step in the home buying process. Without knowing your budget, how could you know which homes to look at?
Finding out how much you can afford is called “Pre-qualification” or “Pre-approval,” and there are major differences in the types of letters each one generates.
Borrowers may be told that these are the same thing, but that is a mortgage myth! Let’s break down pre-qualification and pre-approval, to see how they’re different, and what they can do for you as a client.
I regularly work with appraisers, home inspectors, lenders and loan brokers who are skilled and absolutely necessary whether buying or selling a home. People often are unaware of the role a title company plays and what kinds of "closing costs" are required. Our first meeting is to share this information and prepare you for a successful transaction.