Does it matter where you get your pre-approval?
It could!
From Anabela Vargas, Vice-President/Senior Loan Officer –
Does anyone care where you get your pre-approval for a mortgage? Actually, yes!
Sellers’ real estate brokers tell us it’s something they pay close attention to. Why?
In today’s super-competitive market, sellers and their agents can often be very choosy. Many are looking for as close as possible to “sure things” – meaning they’re more likely to give the nod to a buyer whose lender they know has a great reputation for keeping the process moving to the closing with (ideally) no problems.
At Canton Co-operative, our pre-approvals are fully underwritten. What does that mean? It means no surprises later because your pre-approval with us is written to the standards of an actual mortgage application. When you’re pre-approved with Canton Co-operative, it basically means you qualify for a mortgage with us.
That’s different than something quick and informal – especially from an online lender. Some lenders will say they’re doing a “pre-approval” when they’re actually referring to a borrower being “pre-qualified,” which is not the same thing at all.
The bottom line? Be sure you’re getting what you think you’re getting because lenders might use the words interchangeably but some “pre-approvals” are much stronger and better than others.
The best news? A genuine fully underwritten pre-approval from Canton Co-operative Bank – with everything verified – might give you a strategic advantage, and it’s free!
It’s easy to get your pre-approval started and it’s something you should have in place as a first step toward buying a home. Come see us or call 781-828-8811 x4 or email me and we can set up a time to talk. You can also apply online.
Anabela Vargas NMLS #582849 – Falo Português
Canton Co-operative Bank NMLS #721437