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Getting a Legitimate Lender and Getting Pre-Approved

It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

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Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

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Curtis and Patricia Sheets
16503 Booker T Washington Hwy
Moneta, VA 24121
Phone: (540) 293-1033
Fax: (888) 629-1611
Email:
Curtis@LoveToSellYourHome.com
Patricia@LoveToSellYourHome.com

Testimonials

Curtis and Pat are very courtious and professional. You'll get top of the line service and they will go out of their way to make sure you're satisfied. They treat you like family and stay in touch. We couldn't have asked for better realtors or friends! Tara Davidson Fain
We would like to take this opportunity to thank you for helping us find a great home to live in. We first spoke to you two years ago. At that time, you knew that we were not yet ready to purchase a home or to move. Still, you showed us a few houses. You also took the time to show us some of the highlights of the area, such as the Roanoke Star and the Market District. Over the following two years, you always kept in touch. You sent us nearly 350 houses to review and personal notes about how we were. When we sold our house in NYC and came down to Roanoke, you took us around again and we found a dream house. We still had business to finish in NYC and you took charge, getting an inspection of the home and arranging for a closing agent to handle the purchase. Thank you for finding just the right home and for treating us as friends, not as customers. If any of our friends wants to make a move out here, we would recommend you and ReMax without reservation. Alfred and Clara Rodney
We bought our house with Patricia & Curtis. They were very knowledgeable, fair and honest and very helpful. We would highly recommend them to anyone looking to buy or sell real estate. It was a pleasure to visit houses with them. Jean-Luc and Regine Willem
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Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

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