Are you pre-qualified or pre-approved for a loan?
Before you begin to shop for a new home, you should set up a time to meet with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That’s when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house.

To get pre-qualified for a loan, I will collect information about your debt, income, and assets. ’ll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. I will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow.

It is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because you have been approved for a loan for a specified amount.

To get pre-approved, just click "Apply Now" on my home page and complete a mortgage application.  That will provide me with various information verifying your employment, assets and financial status such as W-2 forms, bank records and credit card statements. I'll review your mortgage options and submit your application to Fannie Mae for approval. This usually only takes a few hours once your application is received.  Once I receive an approval you will receive a pre-approval letter indicating the amount WJ Bradley is willing to lend you for your home.