PreQualification vs Preapproval, what's the difference? Over the past 30 years, almost every client who has come to me for a purchase loan has asked me what the difference is between a PreQualification and a PreApproval. The distinction is an important one. It can mean the … [Read more...] about Mortgage Mistake #5 – PreQualification vs PreApproval
Mortgages
Mortgage Mistake #4-Changing Jobs or Your Business Structure
Mortgage Mistake #4 - Changing jobs or, if you are self-employed, your business structure. Scenario 1: You are an employee with a salary If you are an employee who receives a regular paycheck for the same amount each pay period, here's what happens when you change jobs. The … [Read more...] about Mortgage Mistake #4-Changing Jobs or Your Business Structure
Mortgage Mistake #3-Opening New Lines of Credit
Mortgage Mistake 3 - New Lines of Credit. When you are about to purchase a new home, you think about the wonderful, brand new shiny appliances you'll get. The furniture that will reflect your personality, the art, the accessories. Mortgage Mistake 3. Don't! There are multiple … [Read more...] about Mortgage Mistake #3-Opening New Lines of Credit
