What is Pre-Qualification for Financing?
Finding a home and buying a home in Dallas Fort Worth are two very separate things. Buying a home starts with getting your financial house in order. Getting pre-qualified shows sellers that you are a buyer who can qualify for financing and it helps you establish a clear price range for buying a home.
Pre-qualification is not a full mortgage approval, but a basic estimate of what you can afford in a home loan. Pre-qualification is sometimes confused with pre-approval, which is a more comprehensive analysis and commitment of a loan program for a buyer.
Simplify your loan process and get pre-qualified for a home loan. Along with the down payment available to you, the loan amount will determine what price range will work for you. Pre-qualifying helps you identify and resolve any issues you may encounter in your loan application.
Coldwell Banker Apex makes the home buying process easier, faster, and more convenient by partnering with our in house lender, Service First Mortgage to pre-qualify buyers.
What about Getting a Mortgage?
A mortgage is the loan a potential homebuyer needs in order to make up the difference between the down payment and the purchase price of the home.
There are a variety of mortgage programs available, with adjustable time periods and financing options. The process and the products can be complicated. It's a good idea to work with a knowledgeable mortgage professional that can advise and explain all of your options to you. It usually takes about 30 to 45 days to process a loan application. The actual time depends on how promptly the lender can get an appraisal of the property, a credit report, verification of employment and bank accounts. Most loans will also require a buyer to provide verification of income, assets, and long-term debt.
Apply for a home mortgage and work with a knowledgeable professional today. Coldwell Banker Apex helps to ensure the very best financing experience by partnering with Service First Mortgage, a mortgage banker and mortgage broker, whose primary focus is to provide superior products and employ the latest in communication technology. We guarantee to offer the highest quality in response and services.