Applying for a mortgage is a stressful time. That's why we have partnered with the Carder & Palmer Team of Myers Park Mortgage to make this process a little easier.
Pre-Qualification vs. Pre-Approval
Many use these terms interchangeably, but they are two different things.
Pre-Qualification: This is when a lender tells you how much house you can afford based on financial information you have provided to them. However, this information is not verified, and there is no guarantee that you will actually qualify and be approved for a loan of this amount.
Pre-Approval: This takes pre-qualification a bit farther. Your information is verified and your credit reports are run. The you have a true picture of the amount and terms of your loan. This puts you in a better position in negotiations with a seller. The seller knows that your financial information is sound.
Olan Carder and Gary Palmer with Myers Park Mortgage can get you pre-qualified in a matter of minutes or pre-approved in a few hours.
