David Nyman Realtors      

Home Services / Nyman Group

Jeff Colt Sells Connecticut

With Century 21 Home Services, The Nyman Group, Southbury CT.

Jeff Colt

Sells

Connecticut

Jeff's page was last updated on: January 9, 2009

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Jeffrey D. Colt - Sales Associate - Century 21 Home Services / Nyman Group  Southbury, CT. - 203-262-2003 - e mail: rltymn1@yahoo.com

Each CENTURY 21 office is independently owned and operated.

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Articles of Interest

Jeff Colt

Sales Associate

Century 21

Home Services Scalzo

Nyman Group

Pre-Approval: The Key to Moving Quickly

One of the most important steps in the home-buying process is being pre-approved for a home loan. Many buyers apply for a loan and receive approval from a lender BEFORE searching for a home. This is called “pre-approval.”

Why is pre-approval important at the beginning of the home-buying process?

* Pre-approval can cut days or even weeks off the closing, because the lender has already conducted its credit analysis and approved you for a mortgage.

* Pre-approval strengthens your offer and negotiating position. A home seller will often choose to accept an offer from a buyer who is pre-approved for a mortgage over one whose financial picture is still in question.

* Pre-approval will determine your price range and narrow your search parameters. Based on your down payment and that pre-approved mortgage amount, you will know how much you can afford before you even start looking for a house.

There is also a significant difference between buyers who are merely “pre-qualified” and those who are pre-approved.

Pre-qualified buyers are those whose lenders have determined how much they can borrow based only on information the buyer has provided to the lender. Nothing has been verified to determine the buyer's true creditworthiness. The buyer still must fill out a loan application and go through the lender's approval process.

For buyers who have been pre-approved, the lender has already done a credit check along with verification of employment and deposit. The lender's pre-approval is a commitment to loan the buyer up to a certain predetermined amount. The only piece missing is the lender’s appraisal of the home to confirm its value.

Please contact me when you are ready to purchase your next home. And let me know if I can provide any additional information about pre-approval or financing options.

Home:        (203) 262-1446

Cell:           (203) 586-9167    

Office:        (203) 264-1400

                  EXT. 2003

Toll-Free:   (800) 795-6781

Fax:           (203) 264-1403

E~Mail:

rltymn1@Yahoo.com

Address:

Century 21 Home Services

Nyman Group

325 Main Street South

Southbury,  CT 06488