Buyers: Pre-Approval Letter
Summary
In this conversation, Ben and Clint discuss the importance of pre-approval letters in the home buying process. They emphasize the need for buyers to find a lender they are comfortable with and to understand the difference between pre-approval and pre-qualification. The discussion covers various aspects of financing, including the importance of considering ancillary costs, the role of local versus out-of-town lenders, and the significance of shopping around for the best loan products.
Takeaways
· Pre-approval letters help buyers understand their budget.
· Buyers should consider their comfort level with monthly payments.
· Lenders should provide realistic numbers for pre-approval amounts.
· It's important to match the pre-approval letter with the offer made.
· Local lenders often provide better communication and reliability.
· Buyers can shop around for the best lender without impacting their credit score.
· Pre-qualification is less meaningful than pre-approval.
· A pre-approval indicates a deeper verification of financial information.
· Buyers should evaluate lender offers carefully before making a decision.
· Local lenders contribute positively to the local economy.
· Not all lenders are equal; choose one that communicates well.
· Understanding ancillary costs is crucial in the home buying process.
· It's important to compare offers from different lenders.
Sound Bites
"Lenders are not created equally."
"You should shop for the best deal for your money."
"Local lenders help the local economy."
"How does applying for multiple pre-approvals impact my credit score?"
Chapters
Sound Bites
"Lenders are not created equally."
"You should shop for the best deal for your money."
"Local lenders help the local economy."
"How does applying for multiple pre-approvals impact my credit score?"
Chapters
00:19 Show Intro
00:33 Understanding Pre-Approval Letters
Hosts
Ben Harang, REALTOR®
La. License #: 36589
Keller Williams Realty Bayou Partners
Mobile: 985.859.2500
Office: 985.262.4400
Clint C. Galliano, REALTOR®
La. License #: 995704723
Keller Williams Realty Bayou Partners
Mobile: 985.647.4479
Office: 985.262.4400
Produced By:
Clint C. Galliano
Music By:
Wiggins Studios
Clint C. Galliano
Music By:
Wiggins Studios
Creators and Guests
Host
Ben Harang
Ben Harang brings over 30 years of experience as a licensed agent and currently works with Keller Williams Realty Bayou Partners. Ben’s experience includes single family residential sales, large land sales, subdivision development, building new construction residential and commercial projects and selling REO/Foreclosed properties.
Host
Clint C. Galliano
Clint Galliano, who’s been an agent since 2020 & an investor since 2008, also with Keller Williams Realty Bayou Partners. Clint’s experience includes residential sales, residential rentals, property management, and various avenues of investing.
