August 2013

There are 2 blog entries for August 2013.

Difference between Pre-approved and Pre-qualifiedHomes and Land for Sale in Central TexasMany Central Texas buyers think once they've been pre-qualified by a lender for a mortgage that they are pre-approved for a loan. Unfortunately there's a huge difference between being pre-approved and pre-qualified.

What is being Pre-Qualified?

Getting pre-qualified by a lender is a fairly simple process and is the first step in the mortgage process. You start by providing a lender an idea of what your debt, income and assets are. This is an informal process which can usually be handled over the phone, email or a lenders website. Pre-qualification usually does not include a view of your credit or even your actual ability to purchase a home.

Since a pre-qualification is based only on information you provide the lender your pre-qualified amount is

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Don Honeycutt has an ABR DesignationHomes and Land for Sale in Central TexasThe Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer brokers and agents who focus on working directly with buyer-clients. ABR agents provide real estate buyers with very specific and valuable help in locating properties, negotiating offers, inspections and all the other activities involved in a real estate transaction and closing. The ABR Designation indicates that a real estate agent or broker has received education in areas specifically related to serving the needs of buyers. It is important that real estate agents adequately represent their buyers' interests.

In todays real estate market it's no longer okay for brokers and agents to just deliver documents, buyers have to be represented with great care. Careful

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