What is Pre-Qualification for Financing?
Finding a home and buying a home in Bucks County are two very different goals. Buying a home starts with getting your finances in order. Getting pre-qualified shows sellers that you are a serious buyer who can qualify for financing (i.e. a mortgage) and it helps you establish a clear price range for buying a home.
Pre-qualification is not a full mortgage approval, but a basic estimate of what you can afford in a home loan. Pre-qualification is sometimes confused with pre-approval, which is a more comprehensive analysis and commitment to a specific loan type and set of terms.
Simplify your loan process and get pre-qualified for a home loan. The loan amount you qualify for will help determine what price range will work for you. Pre-qualifying helps you identify and resolve any upcoming issues you may encounter in your loan application.
RE/MAX Properties makes the home buying process easier, faster, and more convenient by partnering with our in house lender, Graham Peterson with Mortgage America to pre-qualify buyers.
What about Getting a Mortgage?
Most buyers need a mortgage to finance their home. The mortgage is the loan that bridges the gap between the purchase price of the home and the down payment that the buyer is making on the home.
There are a variety of mortgage programs available, with adjustable time periods and financing options. The process and the products can be complicated. It's important to work with a knowledgeable mortgage professional that can advise and explain all of your options to you. The actual time it takes to process a loan depends on how quickly the lender can get an appraisal of the property, a credit report, verification of employment and bank accounts. Most loans will also require a buyer to provide verification of income, assets, and long-term debt.
Apply for a home mortgage and work with a knowledgeable professional today. RE/MAX Properties helps to ensure the very best financing experience by partnering with Graham Peterson with Mortgage America, a mortgage broker, whose primary focus is customer service. Graham is licensed in Delaware, New Jersey and Pennsylvania.
If you have any additional questions, please contact us and we will do our best to answer any questions you may have.
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