You need to get your family prequalified for your home loan
before you walk in to your first home. It is more than just a good idea; it is
smart real estate that saves a lot of time, and more importantly a great deal
of possible frustration down the road. No one wants to accept an offer from an
unqualified buyer and it is very rare these days that a seller will extend a
contingency to a person who still needs to secure personal financing for a
loan. If you know that you need financing to close the escrow, and you know you
are going to be purchasing a new home, take a few minutes and gather the necessary
documents for the mortgage banker and let them work their magic up front. If
will give you more leverage, and more credibility when you are ready to write
the offer on your next dream home.
Unfortunately qualifying buyers is one of the most
overlooked and ignored steps in the real estate profession today. It is a
fundamental flaw Realtors make – assuming their client (or potential client) is
already qualified for a home loan when in reality they are not. For a client to
tell a Real Estate Agent “not to worry, I’ll get approved for a loan” should be
a red flag to stop everything and walk them through the prequalification
process. Not because the person is not telling the truth, but rather because
they are not mortgage bankers. Maybe they think they are going to get a 4% rate
but in reality they are going to get a 5% rate because they missed a payment on
the JC Penny account 3 months ago – who knows? For failing to pre-qualify a
previously unqualified buyer will virtually guarantee a horrible experience for
all parties to the transaction somewhere down the road, as it will undoubtedly
delay the process somewhere.
BanCorp Real Estate Group through its sister company: UBCDirect Lending offers pre-qualification for each of our clients upfront. The
process takes less than 24 hours and it guarantees an easier and faster™ close
of escrow with better written offers and more satisfied clients.
Greg Steinaker: BanCorp REG
Orange County Cities and Communities BanCorp Properties
Serves In:
BanCorp REG: Aliso Viejo Real Estate
& Aliso Viejo Homes For Sale | BanCorp REG: Costa Mesa Real Estate
& Costa Mesa Homes For Sale | BanCorp REG: Coto De Caza Real Estate
& Coto De Caza Homes For Sale | BanCorp REG: Dana Point Real Estate
& Dana Point Homes For Sale | BanCorp REG: Irvine Real Estate &
Irvine Homes For Sale
| BanCorp REG: Ladera Ranch, Real Estate
& Ladera Ranch Homes For Sale | BanCorp REG: Laguna Beach Real Estate
& Laguna Beach Homes For Sale | BanCorp REG: Laguna Hills Real Estate
& Laguna Hills Homes For Sale | BanCorp REG: Laguna Niguel Real Estate
& Laguna Niguel Homes For Sale | BanCorp REG: Lake Forest, CA Real
Estate & Lake Forest, CA Homes For Sale | BanCorp REG: Mission Viejo Real Estate
& Mission Viejo Homes For Sale | BanCorp REG: Newport Beach Real Estate
& Newport Beach Homes For Sale | BanCorp REG: Corona Del Mar Real
Estate & Corona Del Mar Homes For Sale | BanCorp REG: Newport Coast Real Estate
& Newport Coast Homes For Sale | BanCorp REG: Rancho Santa Margarita
Real Estate & Rancho Santa Margarita Homes For Sale | BanCorp REG: Dove Canyon Real Estate
& Dove Canyon Homes For Sale | BanCorp REG: San Clemente Real Estate
& San Clemente Homes For Sale | BanCorp REG: San Juan Capistrano Real
Estate & San Juan Capistrano Homes For Sale
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