Why Get Prequalified Or Preapproved?

PREQUALIFYING is a quick way to determine what price range of homes the real estate agent and buyer should be reviewing.  A prequalification is only an estimate of what a buyer can afford based on unverified information. A buyer who assumes that this estimate is accurate and chooses a home based on that information may, in fact, be denied a loan when he/she actually applies.  However, when buyers obtain a bona fide preapproval, they submit a loan application with necessary documentation. After the lender verifies the information provided, the buyer is informed of how much money he/she can actually afford to borrow. Supplied with that information, the buyer can now confidently go home shopping.

A PREAPPROVAL is a must and improves the buyer’s negotiating position and the length of time it would take to close the transaction.  For complete program details and to find out if you qualify, contact us today at 888-488-3807 or go to www.OneTrustHomeLoans.com.

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