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Pre-Approval Can Put You in the Driver's Seat
05/15/24
Want to be considered a more serious buyer? Instead of getting pre-qualified for a mortgage, consider getting pre-approved.
Pre-qualified means you have described your financial situation with a lender and the lender has given an opinion about whether you may qualify for a loan. In short, pre-qualification is a lender's opinion.
Pre-approved means you provided documents showing your income, assets, and liabilities. The lender has checked your credit report. In short, barring unforeseen events the lender has thoroughly considered your financial situation and will approve you for a loan.
Then, sellers will feel comfortable accepting your offer because they know you can get financing. You'll negotiate from a stronger position, and you can close more quickly because a lot of the paperwork has already been completed.
Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Private Wealth team, or find the right financial partner on our Commercial Banking team for your business needs.
This article contains general information only. Sunflower Bank, N.A. is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. It is not meant as a substitute for such professional advice or services. Before making any decisions related to these matters, you should consult a qualified professional advisor. Investment and insurance products are not FDIC-insured, are not a deposit or other obligation of, or guaranteed by the bank or an affiliate of the bank, are not insured by any federal government agency and are subject to investment risks, including possible loss of the principal amount invested.