Why get pre-approved?
There’s a big difference between being Pre-Approved and Pre-Qualified.
Home buyers who get pre-approved have submitted documentation and their application has been put through a rigorous process. Pre-qualification is only a preliminary assessment of a borrower’s ability to qualify and requires more time, documentation and examination to confirm eligibility.
Home buyers who choose pre-approval and pre-qualification will have different experiences in the shopping process….
Pre-Qualification=Estimate
• Lose leverage to shop and compare loans and homes
• May waste time looking at homes out of price range
• Purchase offers less attractive to home sellers - especially in multiple offer situations
• Must wait for review and verification by lender
Pre-Approval=Commitment
• Time to shop and compare loan options
• Qualifications reviewed and verified by lender
• Confidence in affordability
• Can close quickly
Let’s talk about your options. We can put time on your side and help you get prepared to have the best possible experience - whenever you’re ready to buy a home.
Thank you!
Kristina McMillion
The Home Team
Direct: 480-636-7491
Direct: 480-290-2151
To see where American Financial Network ("AFN") is a licensed lender go to the Nationwide Mortgage Licensing System ("NMLS") www.nmlsconsumer.org and search NMLS# 237341. Principal licensed office is 3110 Chino Ave #290, Chino Hills, CA 91709; Phone (909) 606-3905. The content in this advertisement is for informational purposes only. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy underwriting guidelines.
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