|
All agents are NOT alike! Find out why I am the TOP real estate expert. Call me at:(904) 753-6500.
|
 |
MEMBER OF:
- Multi-Million dollar club
- Amelia Island-Greater Nassau County Assoc.
of Realtors
- Florida Association of Realtors
- National Association of
Realtors
- Multiple Listing Service
|
 |
Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
Find Out More >
View All Offers >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
|
|
 |
Lender
Wells Fargo Home Mortgage
Lender
First Coast Community Bank
|
Financing Your Home >Qualifying For A Loan
It is useful for home buyers to understand the difference between loan pre-qualification and pre-approval. Pre-qualification, which in today's marketplace is usually done by mortgage brokers, means working with the buyers to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save buyers time and money and can even be a bargaining tool with a seller. However, pre-qualification is not the same as loan "pre-approval". The mortgage broker can often get the buyer a pre-qualification letter, but pre-approval must be issued by the mortgage lender.
Pre-approval means that the lender has definitely committed to loaning the buyer money, once the house itself is approved. Since it is a much stronger pledge, it is a much more valuable negotiating tool. When you hear someone talking about "pre-approval", they are referring to specific acknowlegment by a lender that they are willing to loan the buyer money. The real estate agent can be of assistance in this process.
|
|
| Q |
Where would you go if you wished to stay in the world's most expensive hotel room?
|
| A |
The Imperial Suite at the President Wilson Hotel in Geneva, Switzerland, which can be reserved for $33,000 per night. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERT™ 
