Nov
25

Dexter Home Buyer’s Guide – Loan Pre-Approval

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Are you a Dexter Michigan home buyer getting ready to start the process? Before you begin to shop for a home, enhance your buying power by getting Pre-Approved or Pre-Qualified. You may have heard these terms, possibly even interchangeably, however there is a difference.

Getting pre-qualified helps you determine how much home you can afford, based on specific financial information you share with your lender. The lender does not verify this information, and consequently there is no guarantee you will qualify for the loan amount.

If you’d like some more information about getting pre-qualified, click here.

Getting pre-approved requires that the lender verify your financial information, and does serve as a commitment to lend a specified amount based on that verified information. This gives you significant buying power with a seller who recognizes you will be approved for a loan.

If you’d like some more information about getting pre-approved, click here.

 

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