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Buying a home? Get pre-qualified or pre-approved for a loan and gain an important advantage.
Before you begin shopping for a new home, let Excalibur Funding Group set you on the right path with a pre-qualification or pre-approval. This will put you in a better negotiating position as a buyer when you make an offer. We will provide you a pre-qualification letter and then a pre-approval letter which your Realtor will be glad to submit with any offer you make on a home. This is a critical step toward home ownership that you will need to take, and the sooner the better.
To get you pre-qualified for a loan, we'll collect information about your debt, income, and assets. We’ll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. We will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow. It is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend.
Getting pre-approved for a loan gives you a real competitive advantage when the time comes to bid on a home because you have been conditionally approved for a loan for a specified amount.
To get pre-approved, we'll work with you to
complete a mortgage application with various information verifying your employment, assets and financial status such as: W-2 forms, bank records and credit card statements. We’ll review your mortgage options and submit your application to the lender that best meets your needs. Once the application process is complete you will receive a pre-approval letter indicating the amount your lender is willing to lend you for your home.
But remember, a pre-approval letter is not binding on the lender; it is subject to an appraisal of the home you wish to purchase and certain other conditions. If your financial situation changes (e.g. you lose your job), interest rates rise or a specified expiration date passes, your lender will review your situation and recalculate your mortgage figures accordingly.
In today's competitive market, having a pre-approval letter can mean the difference between getting the home you want or learning that someone already pre-approved ended up with the home. Give yourself every advantage. Contact us today. You can call, email, use the "Basic Pre-Approval" link along the right side of this page or just fill in the form below. We look forward to being of service. And if you have any questions, we hope you will call or use the "Mortgage Questions?" link to the right.
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