In Business Since 2001 We accept Paypal
Home for Writers for Publishers Article Directory Article Search
Guides
Article Marketing Secrets
20-Min Article Writing
Author Resource Box
35 Traffic Strategies
Kindle Uploads 101
Fantastic Fiction Decoded


Click Here to
see on Amazon


Site Navigation
Home

Writing Services
+ FAQ

FAQ

+ About Us
+ Blogs
Search Tools
+ Search Our Articles
Article Directory
+ Authors
+ Articles
Other Sites We Own
Writing Puzzle

Professional Book Marketing

Platt Publishing

Marketing Help


 
Article Teaser: While visiting one of your favorite Texas neighborhoods you come across a lovely colonial that has just been put on the market. You love it! Quickly, you make an offer fully expecting that the owner will accept it. However, there is a problem -- a big one -- that will scuttle your purchase because you confused an important issue: pre-qualified vs. pre-approved for a home mortgage.

Keep reading below...

How To Beat Your Competition In Buying Your Dream Home

Copyright (c) 2006-2017 , All Rights Reserved

While visiting one of your favorite Texas neighborhoods you come across a lovely colonial that has just been put on the market. It has everything that you want in a home for a price that is in the range of what you know you can afford. You arrange a visit to the home and you not only like what you see, you love it! Quickly, you make an offer fully expecting that the owner will accept it. However, there is a problem -- a big one -- that will scuttle your purchase because you confused an important issue: pre-qualified vs. pre-approved for a home mortgage. Regrettably, the couple that came in immediately after you got the house because they were already pre-approved for their home mortgage. Your dreams have been dashed all because of a misunderstanding that did not have to happen. Please read on to find out the distinction between two very different approval procedures and what you must do to ensure that you are adequately equipped before bidding on a home.

Not much else in life is more disappointing than to find your dream home has been sold to someone else. Even worse, discovering that you could have had the upper hand in the home buying process had you sought pre-approval for a Texas mortgage loan first. Whether you are seeking a regular home mortgage or one backed by a government entity such as an FHA Loan or a VA Loan, having everything in place before you start your home search can save you a lot of aggravation and grief later on. Quite simply, a little bit of preparation and foreknowledge can spell the difference between you getting the home of your dreams or seeing those same dreams dashed.

Getting pre-qualified for a home is something that is usually done by a realtor. Generally, this person wants to see that you can afford to purchase a home before spending valuable time with you. Sometimes a realtor will want certain financial information from you before beginning to help you find a home. This can include salary information, down payment amount available, or anything else they may require before moving forward. Prequalification is a fairly informal process that does not involve the running of credit reports or the submission of detailed financial information. Essentially, it is your word to the realtor that you can afford a certain home.

On the other hand, a pre-approved home mortgage loan goes well beyond a prequalification. Detailed financial information is given to your mortgage broker who will then determine your creditworthiness. Your salary, debt level, credit history and credit score are all some of the things that come into play when determining whether a pre-approved Texas mortgage will be granted. For the most part you aren't committed to the home mortgage, but you can take the pre-approval with you when negotiating to purchase a home. In addition, a qualified and knowledgeable mortgage professional can supply you with the information you need regarding an FHA Loan or a VA loan and how best to approach these application processes.

A pre-approved mortgage loan is much more valuable to a home seller than prequalification. It can take 4 Ė 6 weeks for you to get a home mortgage approved, if you were not pre-approved (in other words you were prequalified for your mortgage). Whereas the pre-approved individual will get to closing within approximately one week (3-10 days depending upon the lender) after they notify the mortgage broker of their home choice. If you are already pre-approved for a mortgage, this step is usually taken as a clear signal to the seller that you are serious about buying their home. Importantly, if the seller is in a rush and there are two parties interested in buying the home, the one who has a pre-approved home mortgage will beat out the party who is simply pre-qualified.

So, if you are serious about purchasing a home, visit a Texas mortgage broker before starting the home buying process. Your realtor can be a valuable resource to help you find your dream home, but they usually will only pre-qualify you for a home, while an experienced Texas mortgage broker can pre-approve you for a home mortgage and share valuable information with you about a VA loan or an FHA loan. Pre-qualification or pre-approval for a mortgage loan is a simple, yet distinct difference; knowing the best road to take can spell the difference between getting your dream home or watching those same dream evaporate before your very eyes.


If you are looking for articles for your web site or your newsletter on this topic and many other topics, may I recommend http://groups.yahoo.com/group/Free-Reprint-Articles for the best selection.


About The Author: Shop Amazon - Top Gift Ideas
Frank Oakerson is licensed loan officer #56753 in the state of Texas. I am available to assist you in purchasing your first home, bad credit mortgage, FHA Loan, VA Loan, you name it. At http://www.yourmortgage123.com you will find a number of informative articles, mortgage calculators, info on VA loans, mortgage refinancing, stop my foreclosure, and getting pre-approved. Stop by and let me get started on a Texas mortgage for your property today. I have all of the information and tools you need to make your home buying dreams a reality.

Follow "The Phantom Writers" on Twitter (@phantomwriters)
to be notified when new articles are made available.


VOTE ON THIS ARTICLE
Needs Work >> 0 - 1 - 2 - 3 - 4 - 5 << Excellent Article

Tell our authors what you think about their article.



Top-Level Category: Real Estate Articles

10 Most Recent Articles Written by Frank Oakerson

9 Questions To Answer Before You Prepay Your Home Mortgage
Written by: Frank Oakerson | Distributed: 2006-08-02 | Word Count: 1257 | Page Views: 4395 | Votes: 15 | Rating: 1.93
We are all different. At different times in our lives we have different goals and needs. You can ask different experts in financial planning, Texas mortgage brokers, and your banker "should I prepay on my home mortgage?" and you will get answers from "that is the greatest idea" to "that will be the worst financial mistake you will ever make". So what is a person to do? Let us look at 9 things you need to consider and have answered before you "prepay your home mortgage".

10 Deadly Mistakes to Avoid When Applying For a Home Mortgage
Written by: Frank Oakerson | Distributed: 2006-07-12 | Word Count: 818 | Page Views: 2363 | Votes: 10 | Rating: 2.60
Applying for a home mortgage goes well beyond filling out a few forms and awaiting approval for a conventional or jumbo loan. There are mistakes you must avoid when applying for a home mortgage and any one of the ten listed can wreak much havoc, even scuttle the loan. Let's take a look at potential mistakes and how you must avoid them to ensure that your mortgage is approved without a hitch.

The 10 Biggest Mistakes In Home Mortgage Refinancing
Written by: Frank Oakerson | Distributed: 2006-06-23 | Word Count: 775 | Page Views: 3024 | Votes: 13 | Rating: 2.31
If you have owned a home for some time, then likely you have considered refinancing your home mortgage in order to get a better rate on your loan. This decision can be a wise one, especially if your current rate is high and the new loan rate is lower. Not all refinancing decisions are wise, so here is what you should look for to help you avoid the ten biggest mistakes in home mortgage refinancing:

6 Ways To Buy A Home Without A Down Payment
Written by: Frank Oakerson | Distributed: 2006-06-14 | Word Count: 788 | Page Views: 3171 | Votes: 15 | Rating: 2.53
Entering the housing market for the first time can be an elusive dream for so many would be homeowners. Down payments, closing costs, attorney fees, and so much more can thwart even the average buyer. If you have credit problems, little or no savings, or a low income, purchasing a home may be out of the question. On the other hand, there are programs available for buyers to help them purchase their first home.

All of Author's Articles on this site:

Most Recent "Real Estate" Articles

Amendments to Construction Lien Law in New Jersey
Written by: Steven Nudelman, Esq | Distributed: 2011-07-25 | Word Count: 1136 | Page Views: 2702 | Votes: 3 | Rating: 0.33
Based on a report issued by the New Jersey Law Revision Commision, a revision to the Construction Lien Law was signed by Governor Christie in January, 2011.

Saving Time and Money Working with a Real Estate Buyer's Agent
Written by: Darrell Self | Distributed: 2010-05-06 | Word Count: 926 | Page Views: 2001 | Votes: 4 | Rating: 1.00
Consumers interested in residential real estate too often make the mistake of answering a "homes for sale" ad rather than carefully hiring a buyer's agent to protect their interests and to help them make the best purchase for their needs, tastes, and finances.

How To Buy Real Estate in Mexico
Written by: Fernanda Rodriguez | Distributed: 2009-10-15 | Word Count: 1059 | Page Views: 2719 | Votes: 2 | Rating: 4.50
Buying property in Mexico has become more popular every year. Whether you would like to purchase a vacation home or are planning on retiring there, owning real estate in Mexico is easy and safe. With its incredible natural resources, rapidly improving economy and modern facilities and infrastructure, Mexico is the place to make your dream home a reality. This article will answer most of your questions about buying real estate in Mexico.

Tips About Vacation Villas In Chianti, Tuscany
Written by: Teresa Cambi | Distributed: 2009-10-15 | Word Count: 512 | Page Views: 1903 | Votes: 2 | Rating: 2.50
Travelers who enjoy wine, food, beautiful scenery and a relaxed pace will love Chianti. Not only is the region home to its namesake wine which is one of the most beloved and popular wines in the world, but it is also home to some of the most characteristic farmhouses and villas in Tuscany.

Find The Right Property For Sale In Tuscany
Written by: Alice Migliorini | Distributed: 2009-10-14 | Word Count: 529 | Page Views: 2128 | Votes: 3 | Rating: 3.33
All the basics as far as real estate are essentially the same. If you are buying a condo in Miami or a property in the rolling hills of Tuscany you follow the same road. The road just meanders a little bit more when you deal with purchasing a house in Italy rather than the US.

Sarasota Florida: Top Ten Reasons to Visit in 2009
Written by: John C Allen | Distributed: 2009-08-04 | Word Count: 877 | Page Views: 2904 | Votes: 14 | Rating: 2.57
An abundance of visitors from around the world visit Sarasota each year to enjoy all of the amenities this small city on the Gulf Coast of Florida has to offer. Each year, Sarasota's warm climate attracts "snowbirds" down to the Sunshine State for its high season from January through March. Visitors and residents alike enjoy the city's internationally recognized cultural amenities matching those of the nation's largest cities. A world-class destination, Sarasota, Florida has many reasons to live, work and play in this gorgeous coastal setting.

Longboat Key Florida: How to Make the Most of Your Visit
Written by: John C Allen | Distributed: 2009-07-30 | Word Count: 625 | Page Views: 3038 | Votes: 11 | Rating: 3.18
Longboat Key Florida is an 11-mile long island that borders the Gulf of Mexico to its west and the calm waters of Sarasota Bay on to its east. The 8,000 permanent residents of Longboat Key live in a variety of residential styles from condominiums, townhouses, small single-family homes to luxury waterfront estates. While providing activities such as beachcombing, walking, swimming and fishing, the Key is manicured and secluded allowing a relaxing lifestyle. Longboat Key is known throughout the world for its outstanding beaches, sweeping water views, excellent dining, great weather, luxury lifestyles and don't forget the sensational sunsets.

Lake Toxaway Homes for Sale - Your Dream Home Away From It All
Written by: Alan Nilen | Distributed: 2009-04-30 | Word Count: 472 | Page Views: 2108 | Votes: 4 | Rating: 4.50
Lake Toxaway NC provides quiet living away from it all, with natural beauty wherever you look. It's the perfect place to live, to retire, or just to own that summer home that takes you away from the hustle of your busy life.

Buying Property In Italy On The Cheap
Written by: Fabrizio Giglioli | Distributed: 2009-02-24 | Word Count: 511 | Page Views: 3534 | Votes: 7 | Rating: 2.57
An Italian property expert offers invaluable tips on where to buy the cheapest properties in Tuscany.

Home Financing in a Foreclosure-Heavy Market
Written by: Cory Shrader | Distributed: 2009-02-24 | Word Count: 936 | Page Views: 2579 | Votes: 9 | Rating: 2.89
Getting a home loan from a bank is becoming more difficult with each passing day in today's home marketplace. But, what if you have a good deposit now and you need a home now, not five years down the line or whenever the housing market picks back up? Do you have any options? In short, yes.

Most Viewed "Real Estate" Articles

FHA Loans- Affordability Solutions for First Time Homebuyers
Written by: Jared Martin | Distributed: 2008-06-05 | Word Count: 1131 | Page Views: 7181 | Votes: 27 | Rating: 3.30
This article discusses the features of the FHA loan, both good and bad, and presents the circumstances under which itís a beneficial program to the homebuyer.

Understanding The Due On Sale Clause On Your Home Mortgage
Written by: Cory Shrader | Distributed: 2009-02-04 | Word Count: 1835 | Page Views: 6193 | Votes: 18 | Rating: 3.61
The Due On Sale Clause is among the most frequently misunderstood and most-feared legal terms in American contractual law. In this article, we are going to take a look at what it is, what it is not, and how to avoid violating it.

Is Downtown Condo Living For You?
Written by: Lynn MacKenzie | Distributed: 2008-02-22 | Word Count: 462 | Page Views: 4785 | Votes: 9 | Rating: 1.89
In the last year there has been an increase in the number of buyers moving into downtown condominiums. With the closeness of amenities and affordable prices it's easy to understand why buyers want to live in a condo for sale in Calgary. Many buyers see condo living as an attractive option because of the traffic congestion nightmares, the longer commuting times and the ever increasing construction of the Calgary roads.

Residential Builders Need to Re-create the Leave it to Beaver Lifestyle
Written by: Catherine Wilson | Distributed: 2006-07-31 | Word Count: 566 | Page Views: 4458 | Votes: 16 | Rating: 2.56
Do you ever wonder where the neighborhoods went that held the picket fences, window boxes brimming with flowers, uniquely designed houses, sidewalks, canopied streets shaded with 100 year old oak trees, front porches, swings and homes placed close enough so that neighbors can be neighbors? In our fast paced, electronic, motorized world a simpler way of live is one that many desire.

Finding Irish Castles for Sale
Written by: Patricia G. McKinney-Lins | Distributed: 2009-01-20 | Word Count: 635 | Page Views: 4261 | Votes: 11 | Rating: 2.18
It is possible to find an Irish castle for sale. If you are determined, patient, and have the resources, you can buy a castle in Ireland. If you do the research and are committed to the project, you can own a very special property!

Buying And Selling a Home During a Credit Crunch
Written by: Cory Shrader | Distributed: 2009-01-27 | Word Count: 1580 | Page Views: 4112 | Votes: 14 | Rating: 2.21
As President Obama is taking office, many people who had hoped to buy a home in 2008 or 2009 are stressing as to whether a bank will be found, which will finance a home purchase.

Mississauga, Ontario Real Estate and Trends
Written by: Brayden Bassett | Distributed: 2007-06-14 | Word Count: 721 | Page Views: 3544 | Votes: 5 | Rating: 2.20
The city of Mississauga, Ontario, Canada, is the sixth largest in that nation. With its relative proximity to the bustling city of Toronto, the population there has just exploded over the past several decades. The standard of living here in Mississauga is high, and therefore there are a lot of amenities which have flourished that provide the residents of the city with a fantastic lifestyle.

Buying Property In Italy On The Cheap
Written by: Fabrizio Giglioli | Distributed: 2009-02-24 | Word Count: 511 | Page Views: 3534 | Votes: 7 | Rating: 2.57
An Italian property expert offers invaluable tips on where to buy the cheapest properties in Tuscany.

Ten Questions to Ask Your Realtor When Buying a Home
Written by: Craig Elliott | Distributed: 2007-10-10 | Word Count: 619 | Page Views: 3483 | Votes: 8 | Rating: 1.88
When buying a home, the questions you ask your realtor are crucial. Your realtor is assisting you with an important financial matter, so you need to be sure that the decision is in your best interest. The following are ten questions you should be asking as you are working with a realtor or before you hire them to assist you.

Foreclosure Property: Homes Up To 30 Percent Off
Written by: Robert Wade | Distributed: 2006-09-13 | Word Count: 329 | Page Views: 3432 | Votes: 7 | Rating: 2.71
The key to real estate investing is acquiring property for a low price and selling or renting for profit.

Highest Ranked "Real Estate" Articles

Why Parties Engage in Real Estate Litigation
Written by: Austen Koberstein | Distributed: 2007-01-09 | Word Count: 712 | Page Views: 2917 | Votes: 7 | Rating: 3.71
Owning a home is a big part of the American Dream. For many people, this will be their ultimate investment. Therefore, it is no wonder that homeowners do not blink twice when it comes to protecting their most valuable possession. These days, real estate litigation is to the property owner, what the mamma bear is to her cub.

Understanding The Due On Sale Clause On Your Home Mortgage
Written by: Cory Shrader | Distributed: 2009-02-04 | Word Count: 1835 | Page Views: 6193 | Votes: 18 | Rating: 3.61
The Due On Sale Clause is among the most frequently misunderstood and most-feared legal terms in American contractual law. In this article, we are going to take a look at what it is, what it is not, and how to avoid violating it.

Closing on Your Home
Written by: Clint Wooley | Distributed: 2007-01-08 | Word Count: 430 | Page Views: 2603 | Votes: 10 | Rating: 3.50
The closing process of purchasing a home can be one of the most confusing parts. This article is an attempt to help first time home buyers understand the basics of the process to settle fears and anxieties about the process.

FHA Loans- Affordability Solutions for First Time Homebuyers
Written by: Jared Martin | Distributed: 2008-06-05 | Word Count: 1131 | Page Views: 7181 | Votes: 27 | Rating: 3.30
This article discusses the features of the FHA loan, both good and bad, and presents the circumstances under which itís a beneficial program to the homebuyer.

Real Estate Investing: Real Estate - The Hidden Investment
Written by: Robert Wade | Distributed: 2006-07-07 | Word Count: 303 | Page Views: 2509 | Votes: 15 | Rating: 3.20
With REITs and 1031 Exchanges, real estate investing can be confusing landscape. But It's also a fun and challenging opportunity. What exactly is it, and why has it made so many millionaires in this latest boom?

Las Vegas Real Estate: High Stakes or High Gains?
Written by: Mark Felder | Distributed: 2006-08-09 | Word Count: 243 | Page Views: 2515 | Votes: 11 | Rating: 3.18
Las Vegas Real Estate has certainly become a buyer's market in recent months, especially for condominiums. Real estate investors grabbed property at just about any cost during the real estate boom this past year, boosting prices 137 percent over 2000 levels, states USA Today's Noelle Knox...

Longboat Key Florida: How to Make the Most of Your Visit
Written by: John C Allen | Distributed: 2009-07-30 | Word Count: 625 | Page Views: 3038 | Votes: 11 | Rating: 3.18
Longboat Key Florida is an 11-mile long island that borders the Gulf of Mexico to its west and the calm waters of Sarasota Bay on to its east. The 8,000 permanent residents of Longboat Key live in a variety of residential styles from condominiums, townhouses, small single-family homes to luxury waterfront estates. While providing activities such as beachcombing, walking, swimming and fishing, the Key is manicured and secluded allowing a relaxing lifestyle. Longboat Key is known throughout the world for its outstanding beaches, sweeping water views, excellent dining, great weather, luxury lifestyles and don't forget the sensational sunsets.

Are You Suffering From Anemic Profitosis?
Written by: Donna Robinson | Distributed: 2007-03-09 | Word Count: 794 | Page Views: 2664 | Votes: 6 | Rating: 3.00
Is your investment income looking a bit pale and fatigued? Do you become nauseated at the site of your profit and loss statement? Are you itching to sell properties that are losing money? Chances are you're suffering from a lingering case of anemic profitosis.

Home Financing in a Foreclosure-Heavy Market
Written by: Cory Shrader | Distributed: 2009-02-24 | Word Count: 936 | Page Views: 2579 | Votes: 9 | Rating: 2.89
Getting a home loan from a bank is becoming more difficult with each passing day in today's home marketplace. But, what if you have a good deposit now and you need a home now, not five years down the line or whenever the housing market picks back up? Do you have any options? In short, yes.

How You Can Benefit from All The Foreclosures
Written by: Bob Johnston | Distributed: 2008-11-05 | Word Count: 957 | Page Views: 2103 | Votes: 12 | Rating: 2.75
Foreclosures are at an all time high and people are getting scared. One look at the markets over the last few weeks will tell you the tale. Is it possible that a person could actually prosper in times like these? Are there opportunities in the foreclosure market that we are missing? It is possible; there have been many people who started their fortunes during tough economic times.












Download an eBook today
 
Directory Navigation
Locate By Author

Locate By Category:
ALL Categories
Arts & Crafts
Arts & Entertainment
Automotive
Business - Offline
Business - Online
Career
Computers
Education
Family
Finance
Food & Drink
Health & Wellness
Home & Garden
Humor
Internet
Nature & Pets
Real Estate
Religion
Self Improvement
Shopping
Society
Sports & Recreation
Technology
Travel & Leisure
Uncategorized
World Events
Writing & Speaking

Change Number of Results:
50 - 100 - 200 - 500
Article Reprint Rights
Creative Commons License

This work is
licensed under a
Creative Commons
License


You are not required to show the creative commons license notice when you reprint this work.
Article Publishing Tools
Print Article
Email-to-Blog
HTML Source Code
Text Newsletter Format
Link Back HTML

Blog Publishing Tools

Internal ID: #2918
Article Statistics
Word Count: 784

Total Views: 2548

Article Rating: 2.60 of 5
Votes Cast: 10

More Articles By Author:




Article Title Search:

Widow Search
Right Blinker
Google
Yahoo!
Zuula
Bing
Cuil

Last Distribution Date:
2006-06-02 12:47:00






All Articles are Copyright © 2001-2017 of the Defined Authors.

All other material and images on this site are:
Copyright © 2001-2017, ThePhantomWriters.com