During a new home purchase one of the most important things a buyer can do is get pre-qualified for financing. This entails having their credit pulled and providing all the required financials to a loan officer for review. Once it has been determined by a loan officer that the buyer meets the requirements for a loan a pre-qualification letter can be issued by the loan officer.
One step better than a pre-qualification letter, is a conditional approval letter. This can be obtained by fully submitting your loan application and supporting financial documents to a lender to underwrite. Once a decision has been made you will receive a conditional approval with a list of conditions that will need to be met in order to close the loan. The conditional approval subject to a property address, although not necessary, will provide even more comfort to a seller knowing that the buyer’s offer stands on solid footing with a particular lender.
Here at West Cal Financial we have helped many buyers over the years secure financing for a home purchase while also acting as the buyer’s agent. When the market is hot and multiple offers are on the line it is important to have a trust worthy agent and loan officer on your side. Not only are we agents and realtors we are brokers running our own company and work with over 50+ lenders on a daily basis. The ability to help negotiate a great deal and back it up with the best and most affordable financing is something every buyer should desire and demand of their agent.
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