Why Does It Matter Where I Get My Pre-Approval?
As a consumer, you have a lot of choices when it comes to getting pre-approved. You can go through your bank, go online, or go with a mortgage professional. Anyone’s initial thought is to do whatever is perceived as most convenient. How many times have you personally been burned by perception vs reality? The reality is that an online processing tool that pre-approved you in minutes will more than likely be inaccurate. There are a tremendous amount of qualifying assets that are needed in the pre-approval process. That online tool can hand out a pre-approval without any real backing, or for that matter, the threat of damaging their own reputation. What about my bank? Isn’t it more convenient to manage all of my finances in one place? Well, what your bank probably won’t tell you is that they have sold your loan to another financial institution anyhow. When you work with a reputable mortgage professional, that pre-approval means what is says it means. There are no “take backsies” or surprises in the process. You get a real evaluation of what you can borrow, and you and your real estate agent can have that peace of mind through the entire process.