Should you get pre-approved or pre-qualified prior to buying Highlands real estate? It’s a good question and many people are not aware that there is a difference. The difference may not be a big one for many people but for some it can be the difference between being able to buy the home they want or not.
Pre-qualifying for a loan to buy a home in Highlands NC is a basic tool offering a quick glimpse of your finances and stating you could get a loan for up to a certain amount. This process is often a conversation between a lender and a buyer and is a best case scenario. Getting pre-approved for a home loan is a different process, one filled with paperwork and is far more intricate and concrete. For a person who is on top of their finances and fully aware of what he can or cannot afford either pre-qualification or pre-approval will typically do. For someone doing a little more guessing the pre-qualification could be a bit misleading.
Contact our team at Meadows Mountain Realty today to learn more about buying real estate in Highlands. We welcome the opportunity to update you on current market conditions and recommending reputable local lenders while getting you started on your home search. Let our knowledge and experience serve as your guide to the buying process.