Get Pre-Approved, Not
Just Pre-Qualified!
Why not take the next step and get pre-qualified and
pre-approved for a home mortgage loan?
Do you know
your housing budget before you start looking for a home? You'll also have more
negotiating leverage because the seller knows you've got a loan virtually
in your pocket.
Pre-qualification
Pre-qualification acts as a dry run of the loan application process. We review your credit history and
use the details that you provide about your income and assets. We'll discuss
various loan programs and then give you an estimate of how
much house and mortgage you can afford. The whole process
takes only a few minutes.
While a "pre-qual" is non-binding to the lender
(because the information you provide has not been verified), it does serve as a
good indication to potential sellers of your general creditworthiness.
Pre-approval
Pre-approval takes pre-qualification one step further. You
supply documents regarding your income and assets or with your written
permission, we may contact your employer, bank and others to verify your income
and assets. Upon completing our review and analysis, you and your Realtor are sent a "Good As
Gold" certificate stating that your mortgage is approved for a
certain amount within a certain timeframe. You may be
charged a small fee to cover the cost of your credit reports and your
application. Fees are credited at closing.
Gain the
buying edge
The advantages of pre-qualification and pre-approval are two-fold: you're more
attractive to sellers, who needn't worry that they'll accept your offer only to
have your loan turned down, and you'll save time to closing when you find a
home because Continental will have already completed the necessary qualifying
and underwriting steps.
Important note:
Should your financial circumstances change before closing, make sure to contact
your underwriter or myself, as your pre-qualification or pre-approval status
may no longer be valid.
Chris has more than 20 years
in the residential mortgage industry; is a licensed NYS Real Estate Broker; has
a masters degree in industrial engineering; and
can also assist you with commercial and construction financing.
Chris L.
Christie
Credit Specialist and Mortgage
Planner
Please Call
Now
Toll
free 800-540-8838, ext 194
in Melville 631-549-8188, ext 194
in Newburgh 845-567-9030
and
Cell Phone 516-993-4998