Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX. Visit me on the web at www.bradsellstexas.com
If you are in the market to purchase a home than the subject of getting pre-qualified by a mortgage company has probably came up. In fact most Realtors will not even work with you until after you have received a pre-qualification letter from a lender. The reason being if you are not able to purchase a home they are not going to want to drive you around and show you homes that you can not buy, or if you only qualified for a mortgage up to $150,000 they are not going to show you homes priced at $300,000 it is a waste of time, yours and their.
Now you might be asking yourself so if I get pre-qualified then I must be pre-approved and unfortunately this is not the case. Most mortgage companies will not start the actual loan application till you are under contract. This is bad cause once you go under contract you start spending money. You will have to come up with a earnest money deposit, option money, cost of the home inspection, appraisal, pest inspection, and so on. If you are renting a place then you are giving you landlord notice, packing, and getting ready to move, and all of a sudden your loan application is rejected. Now you are out of all of the money you put up and hopefully there is not anyone getting ready to move into to your home or apartment cause you are out of a place to stay.
So how do you avoid this potential disaster? When you speak with the mortgage company and they are pre-qualifying you tell them you want to get pre-approved most will do this for you it takes more time than the a standard pre-qualification. They will still give you a pre-qualification it normally takes them 15 to 20 minutes and you can get with your realtor and go start looking at homes. I have seen pre-approvals take over a week and they ask you to bring in a ton of paperwork but they are putting your through underwriting now instead of waiting till you find a house. If the lender you are working with is not willing to do this than you need to ask yourself is it worth the risk when there are so many out there that will. Some lenders are great at what they do and if they give out a pre-qualification then 99.9% of the time they can close the loans but there are some that hand out pre-qualifications right and left and there is a 50/50 chance they close. Do you want to risk it? For more information call me at (254) 291-0630 or visit me on the web at www.bradsellstexas.com
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630 or visit my website at www.bradsellstexas.com
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