| Pre-approval consists of having your loan taken through the application, processing, and underwriting stages to obtain your loan approval even without having a property under contract. It is a valuable service because it gives you two very important advantages. First, it provides you with a security of knowing your loan is in place and all you have to do is find a property that meets the approval specifications. There is no guesswork. More importantly, pre approval also provides you with a very strong negotiating tool. Sellers are much more motivated to deal with a buyer who is serious. They know that if the terms of a sale can be agreed upon and if the property appraises and passes your inspection, the transaction will take place. Again, the guesswork is eliminated and the financing contingency of the contract can even be eliminated if necessary. If you would like the name of a reputable lender, please contact me at 303-902-3154. |
