Main Content

Get pre-approved

Get pre-approved

Does it Help to be Pre-Qualified by a Lender?

The pre-qualification process can be completed fairly quickly, based on less information than is required for getting pre-approved. While it is fast and it does help, a pre-qualification letter is an opinion from a lender of the maximum amount of real estate you can qualify for. In a competitive seller’s market, an offer from a buyer with a pre-qualification letter could lose out to a person who is pre-approved.

Get Pre-Approved by a Lender

There are several benefits to going the extra mile and getting a pre-approval letter. First of all, you will know exactly how much real estate you can afford. When you find a property you want to buy, your offer will be in a better positioned than someone less prepared. Finally, being pre-approved is more efficient; it reduces the amount of time it will take your lender to fund your loan. Be prepared to provide comprehensive documentation, which the lender may independently verify, including but not limited to:

  • Job and career status
  • Monthly debt payments
  • Total assets and debts
  • Income
  • Cash available
https://www.destinationpropertiesutah.com/eden-utah-real-estate/
contact Send A Message +

At Destination Properties, our goal is to offer unmatched real estate service for home buyers and sellers. Our team of local agents has over 25 years of combined industry experience, and is dedicated to providing superior customer service to anyone looking to fulfill their real estate goals in Ogden, Eden, Huntsville, Wolf Creek Resort, and other sought-after communities throughout the Ogden Valley area.

    Skip to content