getting-pre-approved-by-a-legitimate-lender | For Buyers

Details: Category: For Buyers For Buyers; Published: 04 September 2006 04 September 2006; Hits: 19055 19055

It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today's market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc.

When you are pre-approved, you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

In addition to being pre-approved, it's important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

When it comes to qualifying to purchase Idaho Real Estate, I recommend Leon Baker with First Mortgage Co. of Idaho. He can be reached at (208) 989-2174 or at This email address is being protected from spambots. You need JavaScript enabled to view it.

Whenever you're looking to buy or sell a home on Idaho eal Estate in the Boise real estate market, please contact Don Wixom (208) 880-5039!

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Don Wixom
RE/MAX Executives
16201 Idaho Center Blvd.
Nampa, ID 83687
Direct: (208) 880-5039
Office: (208) 466-0002
Fax: (208) 466-2227
Email:
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Realtor, ABR, CRS, GRI,
e-Pro Internet Professional

Quality Service Certified®

2000 "Realtor of the Year"

What my clients say

"Thank you Don for your considerate and professional help on selling our house. Your informative correspondance we recieved before deciding to list it, got you the house, and your continued contact to let us know what efforts were being made to advertise and show the house were greatly appreciated. Showing mutual respect, we feel like we have made a new friend!"
~ Bill and Sharrel Cash, satisfied sellers

"Thank you so much for all of your efforts, patience, perseverance and professional behavior through the ordeal of selling our house. The way you dedicated yourself to your work and to our needs truly showed your eagerness and ability to help. Thank you again."
~ Jan Byers, satisfied seller

"Just wanted you to know that we really appreciate how smoothly the sale of our home went. It really could not have worked out any better. The wide marketing of our home you initiated really paid off. Thank you for a terrific experience. You have our highest recommendations, and we'll be more than happy to pass it along. God Bless!"
~ John and Jeanie Mowery, satisfied sellers

"We cannot thank you enough for your time and patience in finding our new home. There's no way we could've done it without you! You made all our dreams come true and we will always hold you dear for that."
~ Meguel and Kris Escutia, satisfied buyers

"Thanks to Don Wixom, we have been enjoying our new home for six months now. Don as the realtor selling our house worked very hard for us. He helped us through all the complex paperwork involved in making offers, getting a loan, etc. Don paid attention to detail and kept us well informed about how things were going. When things needed to be done, Don was readily available, seeing us through a home inspection, even crawling under the house in the dirt and cobwebs when we asked him to. Don was always only a phone call away. We still remember his phone number, we called him so much! Don has a wealth of experience and resources to offer. We would definitely recommend him to anyone wanting to buy or sell real estate."
~Scott and Naomi Watson, satisfied buyers

"We were long distance buyers. We had been through some major life changes in 2005 and had first contacted Don Wixom in August of 2006. He stood by us 2 1/2 years showing us houses, driving out to houses and emailing us pictures when we were unable to go ourselves, never knowing if he actually would have gotten a sale from us and he never complained or pressured us once.
He always treated us with great respect as if we were his only customer. Don has done more for us than we would have done for ourselves. He gave us great advice. He was always learning what it was that we were looking for. As our needs changed midway through our searching he adjusted to them.
His website allowed us to search the multiple listing service without addresses and phone numbers needing to be given. He would always check into and answer our questions and requests.
When buying or selling in Idaho we would never consider anyone but Don Wixom. He stayed with us for the long haul and we will stay with him."
Steve and Jean McBee, Buyers Nampa

"Thanks Don, for the link to IDX app for iPhone. Works great! All the information I need right at my finger tips! Thanks for always leading from the front!"
Ernie Garza, Buyer

Getting Pre-Approved by a Legitimate Lender