(Newswire.net — June 12, 2020) –Boca Raton, FL — Boca Raton mortgage company Unlimited Mortgage Lending updates its resources to help prospective Florida home buyers understand the difference between mortgage pre-qualification and pre-approval.
Unlimited Mortgage Lending, a mortgage company based in Boca Raton, Florida, released an updated range of resources for prospective home buyers in Boca Raton, Palm Beach County and throughout Florida. The company’s new videos and reports explain the difference between mortgage pre-qualification and pre-approval. They also include an exclusive pre-qualification mortgage calculator to help users determine the amount they may be able to access.
Go to https://bit.ly/PreQvsPreApprove for a brief informative video.
The latest announcement aims to provide home buyers throughout Florida with a series of accessible resources that can make their buying experience easier.
The company explains that the main differences between mortgage pre-qualifying and pre-approval have to do with the level of commitment from both parties.
Getting pre-qualified for a loan is an informal process that can be completed over the phone. It requires no paperwork and enables the buyer to get an approximate estimate of how much they may have available to spend on a house. Based on a series of information including income, debt and potential downpayment, the estimated figure is a usable approximation that can help buyers make an informed decision.
Pre-approval, on the other hand, is the lender’s official commitment to lend to the buyer. The lender undertakes an extensive analysis of the buyer’s financial records to provide an accurate figure of how much the buyer will be able to borrow.
Christopher Pierce, a leading Florida loan office and owner of Unlimited Mortgage Lending, recommends that buyers on the market for a Florida home get pre-qualified to streamline their home shopping process.
“It is smarter for a person to get themselves at least pre-qualified so they know how much home to start shopping for”, explains Christopher. “Getting pre-approved takes out the guesswork. Being pre-approved lets the realtors and the sellers know that you have already completed a mortgage application and and have provided your supporting documentation.”
Unlimited Mortgage Lending offers an accessible exclusive pre-qualification mortgage calculator. The software enables users to get an approximate estimate of their available loan based on their income, debt and purchase price.
For more information on pre-qualification and pre-approval, please visit https://bit.ly/3cWNxaO and https://bit.ly/2AGDk3N.
Interested parties can find more information by visiting the above-mentioned websites.