Before A Lender Will Make The Loan, A Formal Loan Application Will Be Required

Category: Finance.

Your Chino and Chino Hills California real estate search is made much easier with a free mortgage loan pre- approval letter. With a California home loan pre- approval letter, real estate agents are more inclined to work with you, and only show you Chino and Chino Hills real estate in the specific price range of the maximum mortgage.

The mortgage pre- approval letter lets you know the maximum home mortgage loan amount obtainable. Sellers and listing agents also take an offer more seriously if the home mortgage loan is already pre- approved. Renters may be surprised to find out that they could actually purchase their own home rather than paying rent. The free loan pre- approval process should be of interest to those looking at Chino and Chino Hills apartment rentals. This is especially true with all the first time home buyer programs, downpayment assistance and, zero down payment down payment grants that are available. Some real estate agents feel that pre- approval letters say little more than you have contacted a California mortgage company.

A California pre- approval may be a form letter or personalized, but will contain disclaimers to protect the lender in case the borrower fails to qualify. Before a lender will make the loan, a formal loan application will be required. By doing so, you avoid any disappointment of making offers outside of your price range, and get far more cooperation from agents and sellers because they will feel that their time is not being wasted. A formal loan application process is an eventuality, so we recommend obtaining a loan pre- approval in advance. For more information on obtaining a free loan pre- approval letter for Chino and Chino Hills Ca real estate please call Goldmedalmortgage. com at 866 398 4664 or go to: