Buying a home is a significant decision, and our team of local lenders is here to support you throughout the entire process. We’re committed to delivering fast, professional, knowledgeable, and tailored service, ensuring you feel confident and informed as you navigate the complexities of home financing. Our team of lenders are from multiple local mortgage companies and banks that specialize in VA, FHA, Conventional, USDA, NC Housing and more. Serving the Onslow, Pender, New Hanover, Carteret, Craven, and surrounding counties, our lenders specialize in the local real estate market. Our goal is finding the perfect loan program for you, with the lowest interest rates and down payment options available.
Pre-Qualification vs. Pre-Approval: What is the difference?
A common question is, “Is pre-qualification helpful?” While it offers a quick initial assessment of your potential borrowing power, it’s important to understand the difference between pre-qualification and pre-approval. Pre-qualification provides an estimate of how much you might be able to borrow, based on limited information. In a competitive real estate market, a pre-approval letter carries significantly more weight with sellers.
The Power of Pre-Approval
Obtaining pre-approval offers several distinct benefits. It provides a clear picture of your budget, empowering you to shop for homes with confidence. When you’re ready to make an offer, pre-approval strengthens your position and demonstrates your seriousness to sellers. Furthermore, pre-approval expedites the loan process, leading to a faster closing.
Preparing for Pre-Approval
To get pre-approved, you’ll need to provide documentation for verification, such as:
Employment history and current status
Income verification
Monthly debt obligations
Available cash reserves
Assets and debts
