It's never fun to be turned down for a loan, but before you think you won't be able to get credit anywhere, there are some steps you can take. If you are looking for a mortgage loan for real estate in Navarre Beach Florida, check your rates now and let our mortgage experts assist you in your quest.
A pre-qualification is when a loan officer determines what you qualify for based on information you have provided to them. However, loan officers are not underwriters and are not able to make the final decision on your loan.
A pre-approval is the next step after pre-qualification. During this process, your loan application along with income, asset and credit is forwarded to the underwriter for a final decision. A pre-approval can help you when presenting an offer to a seller, since being pre-approved is an actual approval for financing.
Remember: if you have had credit problems or Navarre Beach mortgage loan problems, be prepared to discuss them honestly with a mortgage professional. Responsible Navarre Beach Florida mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties.