Working With A Lender

Obtaining financial pre-approved for your loan

One of the first things a buyer should do is meet with a lender or mortgage broker to get pre-approved for a loan. Pre-approval is different from pre-qualified. Pre-qualification is a rough estimate of how much you can borrow. Getting pre-approved before shopping for a home saves you time from developing an interest in homes outside of your qualification range, and allows you time to select the best loan package available without the pressure of a deadline.

Once, pre-approved then the lender will provide you with a pre-approval letter. For an offer to be seriously considered by a seller in today’s market, a pre-approval letter must accompany an offer. It’s an assurance to the seller that you are a serious buyer.

As first time home buyers, Terri was a fantastic guide through the home purchasing process. As a real estate professional she was very helpful in assessing potential properties, always taking into account our specific asks and needs. On top of that, Terri was prompt and quick to act when a potential house came onto the market. In the chaotic housing market we are experiencing here in PDX her acting fast was very much appreciated. She was available day and night 24/7 which was above and beyond.

We cannot recommend Terri enough for anyone interested in purchasing a home!

Loan Process

Once the loan process has begun, it’s best to keep a rein on your finances. Don’t apply for new credit, make a large purchase such as furniture or a car or close credit accounts. Also, best to stay current on any existing accounts.

Terri was incredibly helpful throughout the process. She was very knowledgeable of the area, and very quick to answer our questions. She took the time to understand what we were looking for in a home, and found us the perfect house. We wouldn’t be in our new home today, if it wasn’t for Terri.