Now That I’ve Talked to My New Lender…

Okay, so you’ve already opened up a dialogue with your new mortgage lender.  Whether or not this is the lender that you actually use for the mortgage itself is irrelevant for now.  While you have them on the phone, take the next step and…

Get Pre-Approved!

Most initial conversations with a lender lead to getting “pre-qualified” for a loan.  That’s great.  That and a dollar will buy you a soft pretzel at WaWa.  Pre-qualification is a bit like looking at a local teenager and saying “she looks trust-worthy enough to babysit our kids.”

Getting pre-approved on the other hand goes a long way to showing you agent and the sellers of the homes you will look at together that you are a serious candidate to purchase that home.  Best of all, it literally puts you one step closer to owning that home.  What would you  rather do?  Tour a home, fall in love only to go back to your agent’s office and find out from your lender that you may or may not be able to swing approval on that offer you want to write?  Or, would you like to have the freedom to submit that offer right then and there, confident that your offer will be strong and viable in the seller’s eyes, because you already have the necessary pre-approval letter in hand and ready to go?  I’d love to chat if you would seriously prefer the former over the latter scenario.

Chew on that for now.  Tomorrow, we get to the fun stuff.  Happy Labor Day Sunday!

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About Joshua Stein

They say that owning your own home is a major part of living "The American Dream." I'm proud to be an active part in making that dream a realty for the good people of the Delaware Valley as a Realtor® with Coldwell Banker Preferred's Conshohocken office. I am actively involved with the Brotherhood of Congregation Beth Or as well as a proud parent in the Greene Street Friends School community. I also served as Den Leader for my son's cub scout pack as well as a member of the Cub Pack 173 Committee in Flourtown, and now with Boy Scout Troop 665. Professionally, I also hold membership in the Montgomery County, Pennsylvania, and National Association of Realtors®. Whether you or someone you know and love are buying or selling your home, I look forward to servicing all of your real estate needs on the Main Line and beyond.

Posted on September 3, 2011, in Real Estate and tagged , , , , , . Bookmark the permalink. Leave a comment.

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