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REALTOR
Rick Plute
Executive Real Estate, Inc.
Website:
www.nwrealestategroup.com
Credit Bureaus:
Equifax
(800) 685-1111
P.O. Box 105069
Atlanta, GA 30348
www.equifax.com
Trans Union
(800) 888-4213
P.O. Box 2000
Chester, PA 19022
www.transunion.com
Experian
(888) 397-3742
P.O. Box 9600
Allen, TX 75013
www.experian.com
| Understanding Pre-Approval vs. Pre-Qualification:
Pre-Approval vs. Pre-Qualification is there a
difference?
Yes, there is a big difference between “Pre-Approval”
and “Pre-Qualification”.
Pre-Qualification
Mortgage Prequalification is a calculation of the amount
of home a buyer can afford. It is based on the
information that is provided by the borrower with no
credit inquiry, asset or income verification. This can
be done fairly quickly by a mortgage professional.
Pre-Approval
Loan Pre-approval is a much more involved than a simple
Pre-qualification. A Pre-Approval is generated from your
lender and requires a review of your credit report, pay
stubs, assets, liabilities and so fourth. The
Pre-Approval also provides information to the Real
Estate Agent as to the amount of home a buyer can
afford. Most sellers prefer to see a Pre-Approved buyer
when reviewing any offers. |
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The Benefits of using a Mortgage Broker
A loan program, which best suits a particular borrower, may not
always be evident when a borrower makes loan application.
Often a loan program which at first looks as if it is a good
match may not be practical as the loan is processed and
additional information about the borrower and/or property is
received. Lender loan programs and the rates inherent in each
program often change daily. Using a Mortgage Broker allows the
consumer the opportunity to go to a different lender if the
original program, or its rates and/or fees have changed. A
Mortgage Broker represents their client by utilizing a multitude
of lenders. Mortgage Brokers offer their clients flexibility
through a variety of loan programs than those which are offered
through a traditional bank.
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Valerie Plute
Senior Loan Officer
206-755-1928
Loan Network LLC
1600 Lind Avenue SW, Suite 180
Renton, WA 98055
#510-LO-33227 |
| Links to other Internet sites are provided as
a convenience only. There are no representations about linked
sites; providing a link does not mean that this is an
endorsement or approved site or that NWLoanNetwork.com accepts
any responsibility for these sites’ content or use. |
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Credit Reports |
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Not sure how your credit looks? We have included helpful links
to the credit reporting agencies. |
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Helpful News |
| Do you need help with your down payment?
We can discuss with you the gift programs that are available
in your area. |
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