The Advantages of Pre-approval
Get pre-approved, not just pre-qualified. Pre-approval is a lender’s commitment to lend;
Pre-qualifying is a verbal exchange in which the
lender tells borrowers in advance how much money they can borrow.
Five Good Reasons to Get Pre-approved
1. Pre-approval helps you know which houses you can
see.
2. Pre-approval facilitates the closing
transaction.
3. Pre-approval makes buyers more attractive to
sellers, knowing the buyers qualify for a mortgage.
4. Lenders can detect any potential problems that
might make obtaining a loan difficult.
5. Learning about credit report errors, high debt
balances, and an insufficient down payment early may give buyers time to correct
the problem before they apply for a loan.
Cheryl Nightingale
Realtor®, CDE, CBR
RE/MAX Real Estate Center
30 Mechanic Street
Foxboro, MA 02035
(508) 543-3922 - Office
(508) 576-7442- Direct
(508) 543-0696 - Fax
