Will you be financing your home?
If you plan on financing your home, getting pre-qualified is an important first step in the process for several reasons:
1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.
2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.
There are many lenders available for you to choose from, my recommendation is to talk with a couple of them to determine their rates, process, and of course their fee structure. I would also recommend that you speak with our preferred lender, as Coldwell Banker is consistently recognized among the most ethical companies in the world, you can be sure that we choose to partner only with companies who hold true to the same values.
I am happy to refer you, just give me a call and let's chat about it; Mike Gunsallus 404.569.8048