Woo-hoo - got prequalified!!!

[pattycake]

I am on my way to homeownership!!!

I used my credit union, and they are such a pleasure to work with. I know prequal and preapp are not the same thing, but since I have my down payment ready to go, I don't anticipate too many problems.

I will be making my first offer on a house next week.

Thanks for all the support, everyone!

Message Edited by pattycake on 03-08-2008 09:23 AM

[dangphuocloc72]

WTG

[Anonymous]

Congrats on your pre-qual...

I am not being 'rude' but from my standpoint (as a Realtor) a pre-qual isn't worth the paper it's printed on.  You need fully verified pre-approval with the only conditions being appraisal, tiltle, HOA/PUD approval, etc... then you are essentially a CASH BUYER for the seller to jump for joy over.

We use to lose about 25% of all contracts before the advanced approvals ---  aand with today's mortgage market a pre-approved buyer is GOLDEN.  I can ram just about any terms my buyer needs down a seller's throat - if they already have their financing!

Get pre-approved then make your offer.

Message Edited by Lady_Scarlet on 03-08-2008 03:01 PM

Message Edited by Lady_Scarlet on 03-08-2008 03:05 PM