Buying a House & The Pre-Qualification Letter
Part of the Video Series How to Buy a House
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Contact: kelleywhiteteam.yourkwagent.com
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Video Transcript
Buying a House & The Pre-Qualification Letter
On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how to buy a house. The prequalification letter; it's very, very important for so many reasons. A prequalitfication letter is you're going to meet with a mortgage broker and the mortgage broker is going to run all your numbers, find your credit score and everything. It's going to find out how much that bank can lend you. Because, this is important, you're not really buying the house, the bank is buying the house. The bank is loaning you the money to buy that house. This is a a prequalification letter. The reason it's important is, first of all, we find out how much you can spend. Sometimes it's a pleasant surprise; sometimes it's oh my God. But most of the time it's a pleasant surprise. What we do with that prequalification letter, when time comes to present the offer, we always include the prequalification letter for 2 reasons. First of all, it shows the seller that you are serious and it shows the realtor that you do have that money to purchase that house. A prequalification is really important.
On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how to buy a house. The prequalification letter; it's very, very important for so many reasons. A prequalitfication letter is you're going to meet with a mortgage broker and the mortgage broker is going to run all your numbers, find your credit score and everything. It's going to find out how much that bank can lend you. Because, this is important, you're not really buying the house, the bank is buying the house. The bank is loaning you the money to buy that house. This is a a prequalification letter. The reason it's important is, first of all, we find out how much you can spend. Sometimes it's a pleasant surprise; sometimes it's oh my God. But most of the time it's a pleasant surprise. What we do with that prequalification letter, when time comes to present the offer, we always include the prequalification letter for 2 reasons. First of all, it shows the seller that you are serious and it shows the realtor that you do have that money to purchase that house. A prequalification is really important.
About the Expert
Expert: Dan Kelley has been selling real estate in the Miami area for many years and is featured often on HGTV's hugely successful real estate show, "My House Is Worth What?" Read More
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