Mortgage Pre-Approval Info
In today's Real Estate market it is pretty much standard procedure for a Buyer to have a Pre-Approval from a Lending Institution prior to or as they begin their home buying searches. If you have not procured your Pre-Approval letter from your Bank or Mortgage Company, please feel free to call on one or more of the lenders listed below. There is no obligation for the services provided in the Pre-Approval process and no fee or cost attached either. If you are concerned about past or prior credit histories about yourself or significant others, now is the time to clear up that anxiety & hesitancy by moving through the Pre-Approval process.These Mortgage professionals can offer valuable tips on clearing up cloudy credit histories and offer guidance on how to improve your current credit situations and credit scores.
A Pre-Approval is only that, an approval based on self-reported information. While a preliminary credit check is done, a Pre-Approval is not a mortgage commitment with verifications from banks or employers.
Get Pre-Qualified for your Mortgage
You can get pre-qualified for a mortgage loan before selecting a house, before knowing the actual sale price. During this phase, you can approach a mortgage lending company and ask them to pre-qualify you for a mortgage loan. The mortgage company pre-qualifies you based on some of the same criteria that they would otherwise use during a real mortgage qualification.
Similar to Real Qualification:
In many instances the mortgage company evaluates your pre-qualification application based upon some of the same criteria as a real mortgage loan application. The advantage is that once pre-approved, you have a fairly good chance of getting approval when applying for a real mortgage.
Some of the issues associated with mortgage qualification (such as a problem on your credit report) may get resolved during the pre-qualification phase.
Mortgage Loan Amount:
You will get a fairly good idea about an approximate mortgage amount that you can qualify for.
Pursue Other Mortgage Companies:
If a mortgage company does not pre-qualify you or rejects your application for some reason, then you have enough time to pursue other mortgage companies.
An offer from a pre-qualified buyer generally carries more weight than a similar offer from a non-prequalified buyer.
The names of these mortgage lenders have been provided for your convenience and are not meant as an endorsement.
Paragon Home Loans
Cell: (315) 244-7831 Work: (315) 418-4257
Fax: (315) 418-4317
SEFCU Mortgage Services
Cell: (315) 727-6582 Work: (315) 701-1390
Deborah M. Burr
Licensed Real Estate Salesperson