Pre-Approval and why it is important for both buyers and sellers!

Pre-Approval makes the real estate buying process much easier and relaxing.  Pre-Approval can save buyers thousands in negotiating not only the purchase price, but the terms and conditions of the transaction!

Pre-Approval means that Robert Maresh has processed your loan application with a lender and you have optained underwriting approval.   This "thumbs up" allows a letter to be written that states you are approved up to "some amount" for a maximum purchase prices.  This letter will often state some percentage that you have initially agreed to put down on the property in the form of a down payment.

Pre-Approval VS. Pre-Qualification

Pre-Approval is very different from Pre-Qualification.  Pre-Approval means that Robert Maresh has run the numbers with the lender and you have the "thumbs up" up to some amount.  This means we can really shop with confidence. 

Pre-Qualification more closely resembles an strong estimate using your credit score.  Because sellers will know that Pre-Approval carries more influence, it is in a buyers best interest to first become pre-approved BEFORE you start shopping.