Getting Pre-Approved Helps You Stand Out from Other Buyers!

Home Buyer Tips: The Value of Being Pre-Approved (Not the same as Pre-Qualified)

A homebuyer's Pre-Qualification letter is a lender’s best-guess estimate of what a buyer can afford when purchasing a new home. But it’s not a guarantee. A Pre-approval, on the other hand, is a firm commitment from the lender based on the buyer's actual finances.

So, before you begin the process of looking for a new home, be sure to get a lender's pre-approval.  That way, you will have an idea of your purchasing power and look more credible in the eyes of a seller if you should make an offer.

A licensed realtor can recommend a lender who can walk you through this process.  If you have any questions about this or any other real estate-related matters, feel free to call Ed O'Brien @ (917) 374-7447 or email me at edobrien@kw.com.