Mortgage Loans
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Prequalification vs. Pre-approval

Now that you know what you want in a home, you need to find out what you can afford. There are two ways to go about this: prequalification or pre-approval for a loan. Either way, you can contact your agent about choosing a mortgage company.


Prequalification is the simpler of the two processes. It can even be done online or over the phone.  When you contact a mortgage company, they will ask you for some basic information about your finances, how much money you earn, your debt load, etc.  They will take this information and give you a rough estimate of how much of a loan you might qualify for.


Pre-approval is more a more in-depth process. The lender will perform an extensive check of your finances including your credit rating, whether or not you’re a first-time buyer, what your debt load is, how much money you have for a down payment, etc.  This figure will be a much more reliable estimate of what you can afford.

In most markets, pre-approved buyers are preferred over those that are merely pre-qualified.  Being pre-approved lets the seller know you have gone through an extensive financial background check and there should be no unexpected obstacles to you buying their home.

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Mortgage Consultant

Cell: 828.989.3587
Office: 828.263.4426
efax: 828.393.0854

86 Asheland Ave, Asheville, NC 28801

Get Pre-Approved

Shawn Fitzpatrick, Movement Mortgage | Featured Partner, Keller Williams Asheville


Mortgage Consultant

Cell: 828.377.0220
Office: 828.777.6308
efax: 828.393.0846

86 Asheland Ave, Asheville, NC 28801

Get Pre-Approved