1001 E Keefe Ave |
It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.
Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.
A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.
In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.
Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.
Back to Table of Contents
Claudine Lienau | 414-273-4363 | Email Me
1001 E Keefe Ave. - Milwaukee, WI 53212
Copyright © 2016, All Rights Reserved
Our focus is on SE Wisconsin, especially Milwaukee County. We are very familiar with Milwaukee neighborhoods, especially the East side, including Riverwest and Bay View. However, we cover the entire Metro area of Milwaukee and surrounding suburbs.
Our office is located in popular Riverwest close to many of our past clients and friends we have associated with over the last 30 years.
We can help you with municipalities including Shorewood, Whitefish Bay, Glendale, Brown Deer and Fox Point. We are finding more buyers are also interested in Mequon, Cedarburg, Grafton and Port Washington in Ozaukee county, which offers a short commute to jobs in Milwaukee.
We offer expert service for our buyers and competitive commissions for our sellers. Our competitive commissions are based on price range and our perception of how quickly your home may sell. We are full service Multiple Listing Service Realtors providing you with many years of experience that will result in an efficient transaction saving you time and money.
©2024, Metro MLS (Milwaukee Area). All rights reserved.
Information is supplied by sellers and other third parties and has not been verified. Real estate listings held by brokerage firms other than Terapak Realty MKE, LLC are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers' personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information last updated on 2024-03-28 17:30:21.