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Home » Financing Roadmap » 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
  • Income
  • Monthly debt payments
  • Cash available
  • Total assets and debts

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Manhattan Beach Office
Molly Hobin Williams
904 Manhattan Ave. #3
Manhattan Beach, CA 90266
Direct : 310-925-2529
[email protected]
DRE # 00819814

Palm Desert Office
47-150 El Menara Cir
Palm Desert, CA 90266
[email protected]

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Molly Hobin Williams
310-925-2529
Email Molly
DRE # 00819814

Tom Williams
310-880-0180
Email Tom

Jaimi Freeman
310-487-8422
Email Jaimi
DRE #01520751

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