Qualifying for a Loan
There is a lot of talk about home a loan pre-qualification by mortgage brokers and real estate agents. There is a difference between loan pre-qualification and pre-approval. Pre-qualification, which in today’s marketplace is usually done by mortgage broker, mean working with the buyer to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save a buyer time and money and can even be a bargaining tool with a seller; however, it is not the same as “pre-qualification approval.” The mortgage broker can often get the buyer a pre-qualification letter. Pre-approval means; that the lender has definitely committed to lending the buyer money once the house, itself is approved. Since it is a much stronger pledge, it is much more valuable negotiating tool. Only a lender can give pre-approval, but I may be able to “push through” a pre-approval from underwriters with as little as a phone call. So when you hear someone talking about “pre-approval” make sure that it is lender pre-approval and know that I can help.
Preferred Lenders
- Judy Adams
2500 Daniels Bridge Road
Building 200, Suite 2B
Athens GA 30606
Cell 706-540-9868
Fax 706-548-6952
www. JudyAdamsMortgage.com
Judy.Adams@Countrywide.com - Terry Berding
Mortgage Division
P.O. Box 1688
Athens, GA 30603-1688
Office 706-354-5069
FAX 706-769-1155
Cell 706-343-7045
www.fabathens.com
