frequently asked questions

Below are frequently asked questions. Click on a question to find an answer.

Question:
What is the difference between being prequalified and preapproved for a loan?

Answer:

If a buyer is prequalified it means that they POTENTIALLY could get a loan for the amount stated, assuming that all of the information provided to the bank is accurate and true. This is not as strong as a preapproval.

Ifa buyer is preapproved, it means that tey have undergone the extensive financial background check, which includes looking at credit history, previous tax returns and verifying employment - and the lender is willing to give you a loan.

Most sellers prefer buyers that have been preapproved because they feel more confident that there will not be problems financing the purchase if an offer is accepted.

General


From Sellers


From Buyers

What is the difference between being prequalified and preapproved for a loan?

Sellers

  • Do you want to have another option than paying 6-7% for a traditional property listing?
  • Do you want to save thousands of dollars when selling your home?
  • Do you want guidance, communication, support and a customized marketing plan from your Realtor?

If you answered YES, then you are in the right place!

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