Just What Kind of Buyer Are You Anyway?
By Mykel Martin, Realty Masters & Associates
((909) 476-9600 ~ WeLoveSellingRealEstate.com)
Pre-Qualified, Pre-Approved or Approved! Did you know that one of the more frustrating aspects of buying Rancho Cucamonga real estate is qualifying for a mortgage to buy your new home? Is your Realtor using confusing terms to describe your loan status- especially if you're a first-time Buyer. Are you wondering what the difference is between being Pre-qualified, Pre-approved and Approved when buying your next home in Rancho Cucamonga? Pre-Qualified - This just means that a lender may approve you for a loan if they are able to verify everything you have submitted to them. Pre-qualification is based solely on information you give to a lender regarding your income and debts. There is no guarantee that you will get a loan. Pre-Approved -Getting pre-approved means that you have a tentative c...
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