I need to get pre-qualified for a loan for a purchase of a house. Is whatever company I chose (ie:wells fargo) the company I have to acutally get the loan from?
2006-11-14 03:21:06 · 9 answers · asked by little lady 2 in Business & Finance ➔ Renting & Real Estate
*** if 6 different companies pre-approve u ... go for whichever of the 6 u desire.
if only 1 pre - approves u... no it doesn't allow u to use that pre-approval at company #2.
2006-11-14 03:25:18 · answer #1 · answered by meme 5 · 0⤊ 0⤋
slightly paper and that they are the two not of large fee. Pre-approval potential you will get approved for the internal maximum loan, pre-qualified potential a rapid look at your funds says you may have the potential to get pre-approved or perhaps approved for a private loan. Pre-qualified potential your earnings is sufficient, yet is merely a rapid look at your individual loan to cost ratios. you'll be able to pay an application fee for pre-approval, yet usually not for pre-qualification.
2016-10-17 06:37:33 · answer #2 · answered by merkel 4 · 0⤊ 0⤋
You can go to any bank or broker to get your loan. Usually your Real Estate Agent will ask for the pre-qualification letter from whatever bank you went to. This tells the agent that you have been qualified and can afford the house you are trying to buy. Usually the pre-qual is from the bank you choose to get your mortage from, however, you can go to another bank. If you do, get a pre qualification from the new bank.
2006-11-14 07:27:33 · answer #3 · answered by anne l 1 · 0⤊ 0⤋
You have to fill out a loan application with lender you plan to use. All pre-qualification does is tell you that on the face of your application you meet their loan criteria. Nothing has been verified & of course they don't have any info on the property. It does not commit them to a loan. Nor are you committed to them. You can borrow from another lender if you get a better deal.
2006-11-14 03:25:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The most important part of getting mortgage is one affording it but two the interest rate, closing costs, and how many points you are going pay. Which company can offer you a better deal. I would not let every bank run my credit because it will bring down your credit. What state are you from? If you need help shoot me an e-mail at denjrealtormel@aol.com
2006-11-14 03:27:23 · answer #5 · answered by Melissa 2 · 0⤊ 0⤋
Not necessarily. Usually you want to get preapproval from the company you intend on using, but if you find a better deal or better rate after the fact, you are under no obligation to use them for your loan.
2006-11-14 03:23:35 · answer #6 · answered by dukeblueforlife 3 · 0⤊ 0⤋
You can use any loan company you feel most comfortable with. The buyer has the right to choose.
2006-11-14 03:38:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋
No but they have your credit report and it can not be transferred.
I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
2006-11-14 04:18:47 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You go where you want to go for pre-qualified loan don,t use them if you don,t want to
2006-11-14 05:10:38 · answer #9 · answered by pattibcacl 6 · 0⤊ 0⤋