Choosing a Reputable Lender
Choosing a Reputable Lender and Obtaining a Pre-Approval
In the past buyers used to go house shopping first and then obtain a pre-approval after finding the right home. However, in today’s fast paced real estate market, that has proven to be one of the least effective methods in landing a home since most sellers expect a pre-approval to accompany an offer in order to even be considered.
Most lenders can pre-qualify you for a mortgage loan over the phone or via the internet, based on general questions about your income, debt, assets, and credit history. However, being pre-qualified and pre-approved are different things. A pre-approval generally means that you have applied for a mortgage and filled out a mortgage application, received a credit report and verified your employment, assets, etc. When you are pre-approved, you know exactly what your maximum loan amount will be.
On the other hand, a pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as a viable buyer and lets the seller know immediately that you qualify for a loan to buy their property.
In addition to being pre-approved, it’s important to have obtained your pre-approval from a reputable lender, such as: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.
You should always deal with a lender that you have heard of and is known to your agent.
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MARK SIMPSON, Assoc. Broker/REALTOR®
Licensed in NH & ME
Cell: 603-370-0253
simpsonrealty@comcast.net
Serving Your Real Estate Needs Throughout The Greater Seacoast Regions Of Southern New Hampshire & Southeastern Maine
- Referral Assistance: I'd be happy to assist you with locating a real estate professional proficient in any areas of the country that may be located beyond the scope of my coverage.
Testimonials
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He was excellent with every detail
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- Claudia Patricia Young
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Mark is amazing! He made the whole process of buying a house in a different state so easy, eased our stress! He works with great integrity from how he dealt with us! We will definitely call Mark again for buying another home or selling ours!
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- Grace Mary Stanley
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Mark was great to work with. He took pride in assisting us and was there for us whenever we needed anything.
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- Nicholas Riley Young
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Mark has been incredible! My family and I have been working with him for over 15 years. He knows the market and New England area, he is very professional, approachable and has outstanding communication skills. Thank you!
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- Igor A. Vladimirov
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Mark is very professional, knowledgeable, & wonderful to work with.
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- Linda Bridges, Personal Representative
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Mark was our agent when we purchased the condo many years ago. We were very pleased to have him represent us as our agent again. Charlie and Lorilee Buzby
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- Lorilee A. Buzby
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Simply said, Mark is the best!
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- Sophye M. Zoukee
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Mark was recommended by our lawyer, Jack McGee. From the moment we met Mark and Kelly, we found them to be very nice, honest, and helpful. We felt very comfortable with them and felt that they would work hard to get us the best price for our house as they could. We live in Massachusetts and the house we were selling is in Portsmouth, N.H. so I made a lot of calls to Mark with questions that I had, and he always answered when I called and always either had the answer right then or would find the answer and get right back to me. We felt that we could trust him, as he was always respectful of us and of the house that he knew held a lot of memories for me. We would recommend Mark very highly, and we appreciate everything he did for us. Sincerely, Sharon and Don Foss w
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- Sharon Foss, Trustee
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Great communication and insight was provided by Mark.
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- Stanley Cherian
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