Back to Table of Contents

Getting a Legitimate Lender and Getting Pre-Approved

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

Assist-2-Sell, Your Choice Realty
1355 Airbase Rd.
Mountain Home, ID 83647
Phone: 208-587-9111
(Connect to an agent 24/7)
Fax: (208) 587-8111
Email: Floyd@assist2sell.com
agent photo

Testimonials Page

"Highly recommend Melissa as a seller's agent! As long distance home owners with renters living in the house, we certainly didn't have the ideal situation for selling a home. She handled EVERYTHING to make the process as seamless as possible. We had great communication and she was willing to do whatever it took to get our home sold-- working with the renters, arranging repairs, etc. Melissa quickly sold a home we hadn't laid eyes on in 7 years. We couldn't be more pleased with our choice to hire Melissa as our agent." eschore5
Our family was growing but unfortunately our home wasn't. When my wife and I finally made the decision to sell and build a new home there were all lot of choices for our real estate needs. Some brokers wanted 5% and others 6% to sell our home. That to us seemed unreasonable. We worked hard to build up equity over time and didn't want to give nearly a third of it to a Realtor. I then got in contact with Susan Richelieu at Assist 2 Sell. Susan told us that she could sell our home at a significantly lesser rate and offer the same full service assistance as all other realtors in town. Hard to believe, right? To be completely honest, she was wrong, because she wasn't just as good as other realtors in town...SHE WAS BETTER!! Susan did an amazing job marketing our home and she even found the buyer. She did everything and stayed in constant communication with us so that we were never left in the dark. We had an accepted offer within 2 months! The best part is she saved us over $5000 in real estate fees. All of that money went back in our pocket and into our new home. Thank you Susan for representing my family. You truly are the best in the business. Matt and Michelle Chandler
View All