Charlotte Mortgages

How you can get pre-approved to buy Charlotte Real Estate fast!

I talk with potential homebuyers almost every week that want information, but do not want to have their credit report pulled.  Many buyers shop for a new home without ever even speaking to a lender about how much they can afford.  This can lead to great disappointment because a lender can’t really tell you what you qualify for without pulling the credit and asking all the right questions.  If you are thinking about buying Charlotte Real Estate, this is where you should START.

PRE-Qualification vs PRE-Approval
Pre-qualification means you have spoken with a loan officer and had your credit report pulled.  Typically the loan officer issues a letter stating how much you qualify to borrow for a home loan.  This option is very quick and hassle free.  Most lenders don’t charge for the credit report and can issue a pre-qual letter in less than an hour.  The problem is that no income or asset documents have been checked and because of that many sellers and Realtors do not trust a pre-qual letter.

Pre-approval is better than pre-qualification.  Pre-approval means your loan officer has verified your income and assets, and has submitted your loan application to an automated underwriting service for approval.  Conventional and Government insured loans can all be ran through a computer underwriter for instant approval.  Pre-approvals are a lot more thorough than pre-qualifications so sellers and Realtors have more confidence in them.  This gives you (the buyer) more negotiating power because the seller knows you are willing and “ABLE” to buy!

Myers Park Mortgage is a HUD approved lender that offers FHA and VA (Veteran) loans, conventional and Jumbo loans for Charlotte area real estate.  We lend in NC, SC, TN, VA, GA, and IN, but specialize in the Charlotte Metro. (Lake Norman, Concord, Harrisburg, Matthews, Mint Hill, Pineville, Monroe, Fort Mill, Lake Wylie, Gastonia)

Call today for a FREE Pre-Approval at 980-721-7478 or APPLY ONLINE.

Tags: Charlotte home loans, First Time Homebuyers, pre-approval, Pre-qual