Getting qualified
prior to applying for a home loan can help you learn
how much you can borrow.
When purchasing a home, you may get pre-qualified or
pre-approved. Usually, you can get pre-qualified via
the phone or on the Internet in a matter of minutes
(10-20 mins). Being pre-qualified is not as valuable
as a pre-approval; when you are pre-approved you
have to go through a more thorough process, which
includes verification of your credit,
income/employment, assets & liabilities, etc. We
highly recommended that you get pre-approved before
you commence looking for your home. The benefits
will be as follows:
Discover
the maximum house you can purchase. This
way, you will not spend precious time
looking for homes that you definitely cannot
afford.
Places
you in a stronger negotiating position with
the seller(s), because the seller(s) knows(s)
that your home loan has already been
approved.
Helps you
close fast because your loan has been
approved.
