Monday’s Mortgage Myth | Pre-qualification vs. Pre-approval

HAPPY MONDAY! Many assume a PRE-QUALIFICATION is the same or as good as a PRE-APPROVAL. This is a mortgage myth.  Fact:  A pre-qualification means a lender has verbally taken your information and calculated some payments to see how much of a mortgage you would qualify for. This is merely a skin and bones approach to see if a borrower may be in line to obtain a mortgage. However, no merit wRead More…

Monday Mortgage Myth – Applying for a Loan Hurts Credit

Hello and Happy Monday! A common misperception in the mortgage process; Applying for a home loan will hurt your Credit. This is a Mortgage Myth. Many fear to have their credit pulled for when applying for a home loan. Note; a consumer credit pulls vs. mortgage credit pulls. When one has their credit pulled for a car, department store, etc the score will drop significantly more than a mortgage Read More…