2451 N. Main
Las Cruces, New Mexico88005
(575) 523-7551 (800) 446-0021
When you are in the market for a new home, you want to make yourself as appealing as possible. Above all else, sellers want a buyer who can afford their property. How do you prove you have the resources to make the purchase? You get a mortgage pre-approval. A pre-approval tells the seller and his or her agent that you are serious and able. It means a bank or lender has carefully examined your credit report, employment history, income and debt and determined that you qualify for a loan. The pre-approval will tell you the maximum amount the institution will let you borrow, the types of loans you qualify for, and the corresponding interest rates. It is important to note that a pre-approval is different from a pre-qualification. A pre-qualification indicates that someone, such as real estate agent or financial advisor, has made a general review of your finances and figured out about how much you can afford by analyzing your income and your debt levels. A pre-qualification does not take into account credit score, types of loans and specific interest rates. It is a less stringent review than the pre-approval and therefore it does not carry as much weight with sellers when you are shopping for your home. Obtaining a pre-approval can give you the upper-hand when it comes time to negotiate for price or if you are bidding against another interested buyer. Ask your real estate agent about this important step
Spotlite
CENTURY 21 real estate professionals are dedicated to making the process of selling your home as easy as possible .
