Hi, my name is Karie Hall with Homes by Karie and eXp Realty.
It could end up costing you thousands of dollars if you truly aren’t qualified. I’ve helped save many buyers from making huge mistakes when purchasing that could cost thousands of dollars. A pre-qualification is NOT a true approval, it’s the initial step in the home loan process where you just discuss your financial situation with the loan officer, but nothings verified. The approval is where the buyer actually provides the lender with all the necessary documentation so the Lender can tell them what they are approved for, which loan product is the best option for them and give the buyer a better idea of the interest rate.
You want to go through the entire approval process.
The lender has done things like verified your employment, seen your taxes, looked at your bank statements, they’ve truly verified everything you will need in order to let you know how much they will loan you and what your payment will be. It’s essential that you do this, otherwise you could stand to lose your initial deposit and any money that you spent on things like inspections or the appraisal. Don’t fall into that trap, call me and let me walk you through the safest and most strategic way to become a homeowner and don’t forget, it’s free to have an agent represent you, the seller pays for my fees, but I am here to protect your best interest. As always make it a great buying and selling day.