It depends on how well you know your financial standing and how it relates to the guidelines of mortgage financing. Those who have a background in finance would undoubtedly be capable of pre-qualifying themselves without the help of a real estate broker or a loan officer.
Here are some of the benefits you’ll get when pre-qualifying.
1. You will know what your chances are of getting a mortgage loan.
2. You then have a good idea of your purchasing power, and with this knowledge, you’ll know what price range to shop.
3. If you are in a situation where many buyers are competing for the same houses, then a pre-qualification or pre-approval can put the odds in your favor to win over that seller. In other words, if a home-seller is looking at multiple offers, they’ll pick the one that looks best for them. In my years of experience, I’ve seen home-sellers more than once, take a lower-priced offer because that buyer had a stronger financial portfolio.
Tip. Know the difference between pre-qualifying and a loan pre-approval. A loan officer can sit down with you, ask questions about your finances and perform a pre-qualification, or put that information into a unique computer program that will generate your instant loan approval. The loan approval is always going to be subject to certain conditions.
If you’d like to know how to prepare for a meeting with a loan officer or ask questions about the process, we’re here to help you.
Click here to try the free “How much can I buy” calculator at prequalifymyself.com
Click here to contact us and we’ll help you get it done.
The heading of this post “Hello World!”, as anyone who has studied programming knows, is the first output used in many teaching examples. It is also the default title of the first place holder post in the WordPress website content management system (WCMS). I thought it fitting to leave it here for all of you out there who can appreciate what it means in your life experience. This is the first official post by me to re-launch our real estate website using this WCMS platform. Early on during the first steps of the commercial WWW, when marketing posts would get flammed out, I wasting thousands and thousands of dollars on the next best thing with the plan of creating a marketing machine. Do you remember AOL? On that one alone I dropped $3,800 on a company advertising with them that promised to bring a flood of leads to our door. The total number we received was exactly, zero! While many out there built huge lead capture system with names like Zillow, Trulia, and Homes, it did not take long for Regie and me to realize, the most important thing for us to focus on was you! Long story short we have continued to operate a successful business for nearly three decades by doing it the “old fashioned way”. Paying attention to what your wants and needs are generates all the business. We intend to keep it that way by listening to and helping you!
That is not to say we haven’t employed technology to better the experience for our clients and increase our productivity. We have stayed cutting edge by adding technology to many of the pouches in our real estate tool-belt. With powerful applications and the “information super highway” we get work done in minutes that used to take hours or days. Hello World!, we are adding the blog and vlog to our Real Estate Technology Mix.