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Pre Qualification | Homes for sale By EXIT Realty Magic City Blog

Tuesday, July 14, 2020   /   by Todd Mowry

Im Pre-Qualified Now What? by Todd Mowry Realtor Experienced Realtor in Orlando

What happens in the mortgage loan process after you get pre-qualified and have found a house to buy?


Getting a pre-qualification is not exactly what it sounds like. Most people think this is all I need to buy a home.  Pre-qualification is just a quick look at your credit and income to see if you can possibly qualify to be approved for a mortgage. You do a quick application..they give you a pre-qualification letter and you go on your way looking for a home thinking you are ready and good to go. While you are good to find a home and turn in an offer you are still a long way off from being ready to buy.

 If you are not pre qualified it would be a good idea to get pre qualified before you start your home search. Waiting till you have found the home can cause delays in being able to offer. Things in your past history can throw a wrench in to your application and you may lose the home you offered on, because of having to wait for answers or correction. If you don't have any; ...

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  orlando real estate, homebuying, benefits of buying a home, how does the mortgage process work, pre qualification

Exit Realty Magic City-1 Able Realty
Jarrett West
653 Maguire BLVD, Suite 900
Orlando, FL 32803
407-227-4800

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