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Why Get Pre-Qualified First?

Why ger Pre-Qualified

 It’s important to move quickly when you find the home of your dreams and having a pre-qualification from NOVA ® Home Loans will make you more competitive against buyers who have not been pre-qualified yet. So while others are fumbling with an offer, you can swoop in with a solid one backed by your pre-qualification from NOVA ® Home Loans.

Why should you be pre-qualified BEFORE going out to search for homes?

For a smooth and streamlined house hunting experience, we recommend starting with a pre-qualification from NOVA ® Home Loans. A pre-qualification show’s both REALTOR’s ® and sellers that you are not only serious about buying but have gone through the beginning stages of the mortgage process.  

Once you have a pre-qualification in hand your next step is to find the home you’ve always dreamed of. We know this industry well and our experienced Loan Officers can introduce you to a local real estate agent that can help you find the home you’ve always dreamed of.  

Here are a few important reasons why a pre-qualification from NOVA ® Home Loans will help you tremendously during house hunting.  

  • You will know right away if you qualify for a loan – Your preliminary review will allow for a snap shot of your current finances, this determines whether you are eligible to qualify or still have a few things to work on.
  • You will know exactly what your budget is – Most people don’t know how much home they can afford. A pre-qualification will determine your home affordability based on your income and finances.
  • Your REALTOR ® will know what numbers to work with – REALTORs ® are especially grateful to know the exact amount they can work with. This amount may even include funds from assistance programs or grants you may have qualified for.
  • You will have higher acceptance probabilities. When sellers are aware that you are ahead of the game they know that you are serious.
  • Sellers will know you are serious. WHY? Because NOVA ® Home Loans already reviewed your finances and determined your buying power.

What is a pre-qualification?

A pre-qualification is a preliminary review of your finances to determine your buying power based on your assets and debts. Your credit score, debt, employment and finances will be reviewed to determine your buying power.

Allow NOVA ® Home Loans to remove the guesswork of one of life’s greatest investments. We can help!  

The information contained here is educational only. Other conditions and restrictions may apply. Rates and available programs are subject to change without notice. Contact your loan officer for more information.

 

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