Tucson Real Estate - Buyers - Pre-Qualification

The first step in buying a home is getting a credit pre-approval to make sure you are able to qualify for a loan.  You will receive a commitment letter from your lending institution before you've found a home so you can start house hunting confidently.

This process begins by talking to your lending institution (e.g. mortgage broker or bank).  You will fill out a typical mortgage application except the property information will be blank.  The loan officer will collect all pertinent information on your credit, income, assets as well as liabilities and will send this information to underwriters who will determine your eligibility for a loan.  If qualified you will have a pre-approval letter valid for a certain amount of time up to a certain amount.

Why do I want to be pre-approved?

1. It will let you know exactly how much house you can buy.  Remember that just because you qualify for a certain amount it does not automatically mean it is in your best interest to spend as much as possible. 
   
   
2. It makes searching for a prospective home much easier by allowing you to focus on homes you know you can qualify for.
   
   
3. Sellers will be more comfortable engaging with a potential buyer who has already been pre-qualified. 
   
   
4. When you find the perfect home much of the paperwork will already be completed; you will simply be required to provide more documentation to substantiate the information.

Coldwell Banker Home Loans is a full service lender with products available to meet each of your customer's mortgage needs. They can assist with the purchase of a primary residence, vacation home, investment property, land purchase, or Equity line for future purchases or home improvements.

•	Get a home loan in just minutes, online.
•	Receive a fast, FREE decision.
•	Get a guaranteed closing date.
•	Enjoy the best rate you're eligible for with a customized loan program and our personalized rate.

If you need assistance in the pre-qualification process or wish to get pre-qualified in minutes please feel free to contact me with any questions you may have!