Get Free Presentation On My Home Marketing.
Before signing a contract with any real estate agent, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
Elaine Pruzon is one of The Top
Selling Real Estate Experts™
Find Out More > |
|
|
 |
 |
About Short
Hills: Moving to Short Hills, New Jersey? Get info here... |
|
About
Millburn: Moving to Millburn, New Jersey? Get info here... |
|
About
Livingston: Moving to Livingston, New Jersey? Get info
here... |
|
About
Summit: Moving to Summit, New Jersey? Get info here... |
|
Local
Market Updates: Click here for more information... |
|
School Reports:
Reports for Short Hills, Millburn, Livingston and Summit schools
kindergarten, elementary, and high schools |
|
Relocating?:
Free real estate information & relocation package if you're
relocating to Short Hills, Millburn, Livingston and Summit, in Essex County
NJ |
Please Sign Up For The Latest Listings and the Latest Real Estate News
Financing Your Home >Qualifying For A Loan
It is useful for home buyers to understand the difference between loan pre-qualification and pre-approval. Pre-qualification, which in today's marketplace is usually done by mortgage brokers, means working with the buyers to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save buyers time and money and can even be a bargaining tool with a seller. However, pre-qualification is not the same as loan "pre-approval". The mortgage broker can often get the buyer a pre-qualification letter, but pre-approval must be issued by the mortgage lender.
Pre-approval means that the lender has definitely committed to loaning the buyer money, once the house itself is approved. Since it is a much stronger pledge, it is a much more valuable negotiating tool. When you hear someone talking about "pre-approval", they are referring to specific acknowlegment by a lender that they are willing to loan the buyer money. The real estate agent can be of assistance in this process.
|
| Q |
What home product makes lawn mowing easier than ever?
|
| A |
The Robomow, a robot lawn mower manufactured in the UK by Friendly Machines, can cut 6,000 square yards of lawn all by itself. |
 See More Real Estate Trivia > |
|
|
Short Hills community organizations & info
Find out what's happening around Short Hills!
Find Out More >
|
|
|
- NUMBER1EXPERT™ 
