Buyer’s Guide

Here are the key steps to buying a home and how William Diffy can help make the process easier.

Step One: Loan Pre-Approval

Before you begin shopping for a home, enhance your buying power by obtaining a free, no-obligation pre-apporval or pre-qualification. Don’t know the difference?

Get Pre-Approved

Getting pre-qualified helps you determine how much home you can afford based on specific financial information you provide. The lender does not verify this information, and consequently there is no guarantee you will qualify for the loan amount. Pre-approval requires that the lender verify your financial information, and does serve as a commitment to lend a specified amount based on that verified information. This gives you significant buying power with a seller who recognizes you will be approved for a loan.

What’s pre-qualification?

Pre-qualification is an informal discussion between borrower and lender. The lender estimates the amount that you can borrow based solely on what you tell them about your income and assets. The lender does no verification and is not bound to make the loan when you’re ready to buy. On the other hand, loan pre-approval is based on documented and verified information regarding your employment, your income, your liabilities, your assets and the cash you have available to close on a home purchase.

How is pre-approval better?

To a seller, lender’s pre-approval letter is considerably stronger than a pre-qualification letter. If a seller knows your financing is secure, your offer is stronger. Pre-approval also gives you peace of mind as you shop for a home, knowing that you will qualify for the proper mortgage amount.

Mortgage Services

Most home buyers rely on finding a reputable mortgage lender that will pre-approve them for financing at the beginning of their home search and help them obtain the monies they need to purchase the home of their dreams. Home buyers also need a lender that communicates with them and explains the waves of paperwork that can accompany the purchase of a new home.

William Diffy is privileged to work with a number of highly skilled loan officers throughout our area. These mortgage companies aim to provide financing for all of our Real Estate client’s with a complete menu of services designed to remove the “complications” of home buying.

The companies that I work with can provide a number of mortgage services including.

• · Arm Loans
• · Jumbo Loans
• · Interest Only Loans
• · VA Loans
• · Land/Lot Loans
• · New Construction Loans
• · Renovation/Purchase Loans