Can I get pre-qualified or pre-approved for a home purchase loan before Ive found my property?
Absolutely. However, you should not confuse a pre-approval with a pre-qualification. During the pre-qualification process, our Mortgage Consultant will ask you a few questions and hand you a pre-qualification letter. The pre-approval process is much more complete. During a pre-approval, our Mortgage Consultant does all the work of a full-approval, except for appraisal and title search. When you are pre-approved, you become like a CASH BUYER and have more negotiating leverage with the seller. In some cases (especially in multiple-offer situations), having a pre-approval can make the difference between buying a home and not buying a home. In other instances, home buyers have been able to save thousands of dollars as a result of being in a better negotiating situation. Most good Realtors will not show you homes before being pre-approved because they do not want to waste your time, the sellers time, and their time. Sundeck Mortgage will pre-approve you at no cost. We will typically need to
