Shopping for a Mortgage - Nasty Surprises
It seems like more buyers are beginning to understand the necessity of getting pre-approved before looking at homes.
Buyers tend to do a lot more research online theses days before jumping into looking at homes and of course, getting pre-approved is tantamount to their success. After all, you can't even make an offer on a home without a pre-approval letter if you're financing.
Pre-Approvals Are no Guarantee
While many buyers have learned, or real estate agents coach buyers to shop around for competitive rates, there are more reasons to get pre-approved with more than one lender than just rate comparisons. I'd like to give you an example; pre-approval is different than pre-qualified and sometimes unpleasant, unexpected things come out in the process and better to know ahead of time for those buyers wishing to avoid headaches and setbacks in achieving a new home.
Just one example, a buyer might have a few sources of income. Perhaps they are ho... read full post