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$265,000
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Elmer, NJ
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$30,000
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TUCKERTON, NJ
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$329,000
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LITTLE EGG HARBOR Township, NJ
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$275,000
2
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LITTLE EGG HARBOR Township, NJ
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Why is there is still resistance to pre-approval?
Pre-approval is a comprehensive process where the lender verifies the buyer's financial information, including credit history, income, and assets. Pre-approval provides a conditional commitment from the mortgage company to lend a specific amount, pending appraisal of the property.
Pre-qualification is an initial assessment based on self-reported financial information provided by the buyer. It gives a rough estimate of how much a buyer might be able to borrow but it is merely an opinion.
Despite the well-known advantages of getting pre-approved for a mortgage early in the home-buying process, many buyers remain resistant even to their detriment. Here are several reasons why:
Some buyers may n…
Harry Disbrow
Coldwell Banker Riviera Realty/The BayShore Team- M:
- 609-226-6270