Why Get Pre-Qualified?
1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.
2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.
Robert Temple, Licensed Mortgage Originator, OVM Financial Inc. NMLS #207259
As a graduate of East Carolina University (GO PIRATES!), I entered the mortgage industry nine years ago. After looking into several other companies, I chose to join OVM Financial, Inc. because, like OVM, I’m “focused on you” – the client – to deliver the highest quality of service to meet your mortgage needs. I enjoy working with first time homebuyers and those relocating to the Tidewater area. I’ve lived here my entire life and want the home buying experience to be a positive beginning to those moving to this part of Virginia.