Skip to Content
Darlene Davis


Sales Representative,


Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. You should request a printed document stating the maximum mortgage amount and rate you qualify for based on your particular finances and income. You will also be able to lock in your lending rate for up to 120 days in the event rates go up, however if rates go down you will get the better rate.  Always get these numbers in writing!!

Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement in signed between Buyer and Seller.

Consider these Scenarios:

You're out looking at homes. You go to an on-line site and get pre-qualified for a mortgage and get a ballpark amount of what you can afford.  Several months later you find the perfect house and work out a deal with the Seller. Three weeks later, the lender informs you that the house is $10,000 over what you really qualify for based on your credit score and current debt ratio and does not approve your loan. The Seller has already bought another house. You've given notice where you're renting and told all your friends about the great house you bought. And then, there's the money you've already spent on inspections on a house you can't own and the risk the Seller will sue you for breach of contract.


You and your REALTOR® have been working diligently finding that "perfect" home. A new listing comes on the market that's priced right and has got everything you've been looking for. You write an offer. Your REALTOR® takes it to the listing REALTOR® and is informed that another offer is coming in and will have to present both offers simultaneously to the Seller. The other Buyer is pre-approved for his loan. Whose offer do you think the Seller will consider first??

Should You Get Pre-Approved for a Loan First??  Most Definitely!! 

Your REALTOR® can help you find a mortgage specialist and arrange an appointment for you.