Welcome or Register

Quick Search


view all


Any

Any

No Min.

No Max.
Back to Table of Contents

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.

Back to Table of Contents

The Realty Experts Testimonials

"Michelle helped my husband and me through our home purchase in Sun City Lincoln Hills with total professional guidance and support.  She listened to our concerns and needs for this purchase and found us our perfect home.  Michelle, with the help of Nick, are the very best REAL ESTATE PROFESSIONALS we could ever have imagined finding.  We both are truly grateful for their friendship and our positive home buying experience." Bernard and Anne B.
"Our experience when selling our home was very pleasant.  Michelle was knowledgeable and well prepared and patient.  She was very much appreciated!" Bob and Carmelina
"You were really fantastic to work with and we wish you and your son only the best.  If you are ever in the Boise area, please come and visit."
 
Tom and Paulette M.
"Susan and I went out to have a celebratory dinner and over drinks we both agreed: You are the greatest!!"
 
Gary and Susan J.
"Michelle is extremely professional and well prepared. At my first meeting with Michelle to sell my Mother's home, she came prepared with marketing materials, information about herself, the current market conditions and details about my Mother's home. She provided advice as to how best sell this house and had all the trades people we would need to get everything done to sell the house for the best possible price. After the estate sale, she made all the arrangements with the trades people and the photographer before listing the house. The house was listed and that weekend, Michelle had a Open House on both Saturday and Sunday. 22 days later, we closed escrow!!! Michelle was a pleasure to work with. I will not hesitate to use Michelle for any future real estate needs nor to recommend her to anyone who may need a Realtor who really knows the Sun City Lincoln Hills real estate market."
 
Jerry and Kathryn R.
"I appreciated your professionalism and great timing in initiating the sale of my home.  It was an easier process than I expected, and am pleased with the outcome.  Thank you for your thoughtfulness." Beverly L.
"Michelle did a great job handling the sale of our home and purchase of another.  She was on top of all the details every step of the way including all the paperwork!!  Less stress for us, so appreciated! Ray and Arlene C.
"Michelle did a fantastic job in selling our mom’s Sun City home.  We live out of the area and were not able to be present during the sale process. Michelle has an extensive network of contacts who were available to provide all the services we needed.  All of them did a great job. As did Michelle. She sold the house on the first day.  Thank you Michelle".
 
Steve and Vivian C.
"Thank you for your level of professionalism that you showed during the sale of our home.  You are a beautiful person and your caring helpfulness will be remembered with great appreciation." Steve and Kathy P.
View All

MLS membershipREALTOR® certificationYahoo® Real Estate Classifieds

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu