Mortgage Pre Approval Not Prequalification

by Sally from Eugene

Regarding Mortgage Pre Approval Not Prequalification: Want to jump to the front of the mortgage line? Get there with mortgage pre approval. Don't bother getting pre-qualified! Getting pre-qualified means the bank just takes your word on how much money you can pony up for a mortgage but doesn't verify that you actually have it!

If it can happen in ten minutes or less, it isn't much use. Getting mortgage pre approval on the other hand, means that the lender reviews all of your financial documents, verifies your credit, and is ready to make you a real mortgage offer!

This can be crucial when searching for homes, because the sellers know that all you have to do is pick up the phone, and your mortgage is assured! You also have the comfort of knowing that once you find the house of your dreams, your mortgage will already be waiting for you.

It is to your advantage to sit down and discuss your finances with a mortgage lender before you are under the pressure of competing for your dream house with other home buyers! Sally

Turbo Tips & Techniques for Getting Your Best Mortgage

Stay current with Today's Mortgage Rates and Trends

Become an expert on the new Good Faith Estimate Form

How to Reduce Refinancing Costs

Learn how savvy shoppers Compare Refinance Fees

Decide how much you can Afford in Monthly House Payments

Insist on Mortgage Pre-Approval

How to Cure Mortgage Approval Hiccups

How to successfully Lock Mortgage Rates

More Turbo Tips & Techniques

Return from Mortgage Pre Approval Not Prequalification to Get Your Best Mortgage Rate

Click here to add a comment.

You can also ask Kate about your mortgage at Best Mortgage Advice Social Networking Hotline.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more