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We all know a pre-approval is necessary, but do you know WHY?

Wednesday, January 30, 2019   /   by Vanessa Saunders

We all know a pre-approval is necessary, but do you know WHY?

Unless you are lucky enough to have oodles of cash at your disposal, it's a necessity to have a lender pre-approval before going out hunting for a home. 
I'm speaking to our Mortage Guru, Barry Goldenberg today. He's explaining the why behind the question "Have you been pre-approved?"
Sometimes buyers say they have one, but in actual fact, they have a worthless piece of paper which states they have a pre-qualification. A pre-qual, is not the same, in fact it's hardly worth the paper it's written on.  A pre-approval entails a lot more research on a mortgage originators part, and if you meet the criteria, you will be pre-approved to buy a home within the range stated. Most often, buyers don't see the necessity of going this step until they find the perfect home and I can't tell you how many disappointed Realtors and Buyers there are out there. If this step in the home buying process hasn't been taken care of prior to finding the dream home, then it will likely sell to another more prepared buyer who has been correctly counseled by their Realtor.
Want to know more? Give Barry a call @ 914-934-4341 No obligation, just the information you need to make the right decisions when buying a home.



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Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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©2019 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.