Pre-Qualifying & Pre-Approval

Mortgage Pre-Approvals and Pre-Qualifying

Even before you begin looking at homes, Theresa encourages meeting you for a personal credit review to give you confidence that homes you’re interested in are within your budget. This peace of mind extends to Realtors who know you have much stronger bargaining power in the market with a pre-approval or prequalification letter, not just a lender’s “best guess.” An additional benefit may be a better understanding of the amount of cash you may need to bring to closing.

Once your pre-approval letter is available your Realtor can submit it to the seller with your written offer.  Including this letter signals your seriousness about purchasing and offers a seller confidence in your ability to buy their home.  In a market as active as Portland’s and Vancouver’s, many Realtors will not show homes unless you have been prequalified or approved as a viable purchase candidate and more and more sellers will not accept an offer without this letter.

The Top Three Reasons Why a Pre-Qualification Matters

A pre-qualification gives you an advantage when it comes to putting in an offer on a home. It not only shows the seller that you are willing to buy a home, but you are financially-able as well. In a competitive market, having a pre-qualification can make or break a sale. As a serious buyer, you’ll want to be as prepared as possible to secure the loan you’ll need to finance the home of your dreams.

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Shows you’re a serious buyer

  • Sellers know you’re ready to purchase when you come prepared with a pre-approval

  • A pre-qualification can increase your negotiating power (especially in a multi-offer situation)

  • Increases the chances of your offer being accepted over other less-credible offers

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Is backed by a trusted lender

  • Movement Mortgage is a local lender who Listing Agents know and trust

  • Movement is backed by the large, national presence of a Fortune 500 Corporation

  • Movement’s new Digital Mortgage application process is stream-lined, eco-friendly and easy to use

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Provides purchasing power insight

  • Sets realistic expectations instead of you finding a home first—only to later discover you can’t afford to finance it

  • Gives you a glimpse at different loan options and potential scenarios before becoming emotionally attached to a home

Movement Mortgage 1-Day Closing Process

Getting a Mortgage or Refinincing Loans with Theresa Springer of Movement Mortgage