Coldwell Banker Gundaker Home Buyers Guidebook - 2017 - Page 16

FINANCIAL FAQs Financing Your New Home Answers to these financial questions will help you get a basic understanding of the financing process. Of course, your Coldwell Banker Gundaker Realtor ® can assist you in finding all the information you need to know to make a sound decision on the purchase of a new home. Q. What is the difference between “prequalified” and “preapproved”? Q. What types of mortgage programs are offered? A. Currently, there are different mortgage A. A prequalification consists of a discussion between a home buyer and a loan officer. The loan officer collects basic information regarding the customer’s income, monthly debts, credit history and assets, and then uses this information to calculate an estimated mortgage amount for the home buyer. The prequalification is not a full mortgage approval, but estimates what a home buyer can afford. A preapproval, on t ѡȁ́)ɕͥٔɽͥͥ)ɵѥ́ݕ́ɽɕ)ɕѥAɕɽم̰Ё͕̰)ɔՔѝѵ̸)Qȁ́Ѽ)ȁѕ́ѡѽх)ѝչЁمѼԸ)ɽՍ́مՑЁЁѕѼ($($($($($+$+$+$+$+$(԰啅ȁᕐɅє$)хɅє)9܁Սѥ)Y!(ԁܵ啅ȁ($ѝɽՍ́ٔѡȁݸ)ͅمх̸QѼȁ)ѥѥѼ͍́ݡɽՍЁ́)ȁԸ)D$!܁́ЁхѼɽ́)ѝѥ)$UՅ䁅ЀԁѼ̰ѡ՝Ё)х́܁͕ٕ́́́̀)́ȁͽɅͅѥ̸($QՅѥ́܁եѡ)ȁЁɅͅѡɽ䰁)ɕЁɕЁٕɥѥ嵕)չ̸) ѥՕЁ(+ ܁9IP5ͽɤ11 ÍI͕ٕ ݕ ȁչȁձ́ѡɥ́ѡȁ!ͥЁѡՅ=չи=Ʌѕ䁄Չͥ䁽9IP11 ݕ ȁѡ ݕ ȁ1)ɔɕѕɕ͕٥ɭ́ݹ ݕ ȁIхє11 Iхє́ѕݥѠ ݕ ȁչȁɔЁɅѽȁ́ͅͽѕ́ɔЁ啕́ ݕ ȁչ