Why you need a Pre-Approval rather than just a pre-qualification. Hi, my name is Judy Hamilton, Realtor with Homes By Judy. You can lose quite a bit of money beginning the purchase process without going through the appropriate steps.  I can prevent you from making huge mistakes when purchasing that could cost you money.  A pre-qualification is NOT a true approval. It is the initial step in the home loan process where you just discuss your financial situation with the loan officer, but nothing is really verified.  The approval is where the buyer actually provides the lender with all of the necessary documentation to tell them what they are approved for, which loan product is the best option for them and what the buyer can expect regarding the interest rate. Did you know you credit score impacts your interest rate?

You want to go through the entire approval process. The lender will do  things like verify your employment, see your tax returns, and look at your bank statements, They will truly verify everything you will need in order to let you know how much they will loan you and what your payment will be. It’s essential that you do this, otherwise you could stand to lose your initial binder deposit and any money that you’ve spent on things like inspections or the appraisal. Don’t fall into that trap, call me and let me show you the safest and most strategic way to become a homeowner and I will walk you through the process. And remember. It costs you nothing to let me help you, because the seller pays my fees. This is Judy Hamilton with Homes By Judy!