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Get Preapproved
Before you head out with a real estate agent to look at possible homes, we suggest you get preapproved to save yourself time and energy.
The basics of being preapproved
Getting preapproved means that you have submitted a complete loan application, provided all your salary and credit information and the lender has committed to an exact dollar amount, in writing, to loan you. Then, once you find a home, it must meet appraisal –in other words, it must be worth at least what you are paying.
So, why get preapproved?
- It shows the seller that you are a serious, qualified buyer – you have a commitment from the lender and are ready to make a purchase.
- Being preapproved may give you additional negotiating leverage, especially if the seller has offers from other buyers who are not preapproved.
- You'll be able to move in sooner since the majority of the mortgage paperwork and processing has been completed.
To apply for a pre-approval:
- Apply online
- Apply by phone on 703-709-8921 ext 70005
- Apply in person with one of our Loan Officers. To make an appointment call 703-709-8921 ext. 72142
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