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Pre-Qualification Process: The Importance of Being Pre-Qualified (#013)

Do you know what mortgage option is best for you? If you don’t know the difference between different mortgage types, then choosing the wrong one for a new home in White Rock or South Surrey could be a big mistake.

Do you plan on purchasing a new home on the Semiahmoo Peninsula? Do you understand why it’s important to be pre-qualified?

If you try to buy a house without going through the pre-qualification process, then you could be wasting time and money.

Being pre-qualified for buying a home is an easy process that could mean the difference between buying a home or being stuck in a rental.

Are you ready to talk to a lender about pre-qualification?

If you’re interested in learning more about why you should be pre-qualified, then you’ll want to invest 20 minutes to listen to this edition of the Mortgage NewsCast where your host Erik Reynolds interviews Jared Dreyer, president of Dreyer Group Mortgages Mortgage rates are lower than ever. The Vancouver Sun* reports that in May 2014, Scotiabank joined other lenders by lowering its special fixed five-year rate.

This interview is a chance to learn the importance of pre-qualifying for such loans when buying a home.

When You Should Try to Pre-Qualify

This episode of the podcast starts out with an explanation from Jared about when is the best time for consumers to pre-qualify for purchasing a home. Jared goes on to explain that pre-qualifying is more than knowing how much you can afford. He describes some of the other benefits afforded by pre-qualification as well. If you’re planning on purchasing a home, then pre-qualification is an essential part of the purchase, and without it you risk losing the home you want before you buy it.

What You Need to Pre-Qualify for a Home

Jared describes the process for pre-qualification, and what you need to begin. He also answers these and other questions during the podcast: - What documents do I need to provide? - Will my lender provide a pre-approval letter? - Do I need to get a rate hold??

Now ask yourself two questions: Is buying a house in your future? Are you prepared for being pre-qualified for buying a home?

If you answered “Yes” to either or both, then it’s time to talk to a mortgage professional to discuss your options.

How Pre-Qualification Affects Mortgage Approval

Jared explains whether a pre-qualification for a loan guarantees a mortgage approval. He also discusses why the qualifying amount may not equal what’s in the borrower’s budget. This segues into a review of some of the things that can impact a mortgage approval, whether is on the side of the borrower or something property-related. With so many things that could determine the outcome of your home buying process, being pre-qualified for buying a home is a must.

What’s stopping you from talking to a mortgage expert about your options?

Jared wraps up the episode with some final thoughts about the importance of pre-qualification for purchasing a home.

  • Are You Ready to Begin the Pre-Qualification Process?
  • Do you need help being pre-qualified?
  • Are you interested in learning how pre-qualification can help you buy the home of your dreams?

After you finish listening to this informative podcast, please contact Dreyer Group Mortgage Brokers at 1.800.687.9020 or apply with us using our 30 Second Application. We look forward to hearing from you!

30 Second Mortgage Application:

Dreyer Group Mortgage Brokers

#308 – 15252
32nd Avenue Surrey, BC
V3S 0R7

Phone #: (604) 536-3802

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Twitter: @JaredDreyer