Pre-approved or Pre-qualified

The first thing you want to accomplish after you have decided to purchase a home instead of renting is speak with a loan officer. Normally if it were me I would speak with atleast two. The loan officer you choose is very important and they need to be readily assessible. You may be needing to call them to get questions answered or assistance.

Homes For Sale in Tampa FL

Before someone goes looking for you home, 90% of people will be wanting to get a pre-approval letter. If you plan on paying cash for a home you will need to have proof of funds. Proof of funds can be a wide range of things. Most importantly the proof must be acceptable to the seller of the home.

Contact Our Preferred Loan Officer

Two important terms to understand are pre-qualified and pre-approval. I will give a brief unsophisticated explanation of these two. Pre-qualified means the lender took a casual look at your financial situation and said you could borrow up to X amount. Pre-approval means you provided them with the requested documentation proving you financial condition. The latter is really the minimum you should have.

Competitive Markets

In a competitive market you many want to do what is necessary to get you pre-approval past underwriting before you make an offer on a home. That way as long as the home appraises for the right amount and everything else goes smooth your loan will close. Having this type of pre-approval is almost as good as cash to a seller and if there are multiple offers this is a positive thing for you. Now you are certainly ready to contact us and speak about what type of homes you are most interested in.