An important early step you should make toward buying a house is to determine the amount you can afford to spend on monthly housing and the amount of cash you will need. A qualified loan officer can help you determine these amounts and give you a good faith estimate of what costs you will incur.
As a purchaser, it is more crucial than ever for you to become “pre-qualified” for a loan BEFORE you begin. What this means is that a lender will certify that you meet the requirements to qualify for a loan in a specified amount.
What's in a Pre-Approval Letter?
After a brief consultation, either in person or by phone, a loan officer will provide a statement (sometimes called a “comfort letter”) stating that based on the information provided to them you are qualified for a specified amount. This simple process takes minutes and is free to you. However, the lender does not guarantee that you are truly qualified since they have not verified any information (such as a credit check, employment verification, etc.). It does, however, show that you are aware of the requirements and have taken this important first step.
In today's market, if a pre-qualification or complete letter of approval is not submitted with the offer, it will not even be considered.
When it's time to buy, Sibcy Cline Mortgage offers competitive rates and quality service. Sibcy Cline's goal is to make the loan process a smooth one. Our automated underwriting system not only speeds up the process, but may save you money. Buyers can b...
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Mortgage Quick Facts
Our stats from July 1, 2023 - June 30, 2024 show why Sibcy Cline Mortgage is trusted by local homebuyers.
98%
loans closed on time
14
days from application to approval (average)
100%
positive buyer surveys
The Sibcy Cline purchase agreement contains many standard clauses, terms and provisions needed for a successful and satisfactory sale. Once accepted and signed by the seller, your offer becomes a legal and binding contract.
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What does a licensed agent bring to the table?
The short answer is: extensive experience in our market. The long answer can be found in this guide. By understanding the ins and outs, you can feel even more confident in how to choose a real estate agent who's right for you. Search our agent directory or contact a Sibcy Cline office near you to connect with agents in your market.
