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Why Get Pre-Qualified?

Why Get Pre-Qualified?

Getting pre-qualified before you find a home or even begin your home shopping is probably the best thing you can do to ensure a successful, stress-free mortgage financing processing. By submitting a pre-qualifying loan application, our Mortgage Loan Officer will pull your credit, obtain income and asset documentation and review your file for any potential issues that could cause issues once you find that dream home. By getting pre-qualified your Mortgage Loan Officer can discuss with you different loan options and payment amounts and you can know upfront what amount of money you are pre-qualified to borrower but more importantly what amount of money you are comfortable in borrowing given you income and debt structure. Also, if there happens to be any issues that need to be worked through, you know that up front and you and your Mortgage Lender can develop a plan of action. Realtors also highly encourage their clients to get pre-qualified before they begin showing properties to ensure they are not wasting their time with someone who cannot afford to purchase a home.

 

Lastly, when you do find the right home and you write a contract to purchase most sellers will want to know if you have been pre-qualified before accepting a sales offer.

 

So, again getting pre-qualified as soon as you start to even think about purchasing a home is a very smart move. It does not cost you anything to get pre-qualified with Community Bank Mortgage and there is no obligation to move forward if you change your mind.

 

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“Our relationship with Community Bank is better described as a valued partnership than a customer vendor relationship. Community Bank’s culture centers around the human relationships. They invest the time and energy to get to know individuals in our organization and understand what will add value to our current situation. They work hard to optimize that value and the result has been a highly transparent and efficient relationship that has indeed optimized our organization’s objectives. It is a banking relationship that goes beyond the products themselves and continues to be viewed as a valued partner for our organization.”

— Vance, Community Bank customer in Mississippi