John Marbury.com

When should I get Pre-Approved?

When should I get Pre-Approved?

When should I get Pre-approved?

Anytime you are thinking about buying a home is time to get pre-approved.  You never know if you can qualify until you have applied.  Many people think they will qualify and they do not, and others think they will not and they do.  Most people will not get pre-approved because they are worried about the hard Mortgage Credit pull. According to the Consumer Financial Protection Bureau (CFPB) A mortgage inquiry has a small negative impact on your credit score. You can shop around and have multiple inquiries for 45 days, and the impact is the same as one inquiry Click on the following link to see more information from the CFPB:

HTTPS://WWW.CONSUMERFINANCE.GOV/ASK-CFPB/WHAT-EXACTLY-HAPPENS-WHEN-A-MORTGAGE-LENDER-CHECKS-MY-CREDIT-EN-2005/

If you are still hesitant to have your credit report pulled.  You can get a free credit report at: www.annualcreditreport.com I would suggest you pay the extra fee to get a credit score.

Getting pre-approved is fast and it is free. A Mortgage credit is unlikely to be the difference of being turned down or approved.  Why not do it today by clicking on the following online application link:

https://bytepro.1stfed.com/ConsumerPortal/?lo=jmarbur1

For more information call or email John.

 

Thanks!

John

 

John Marbury

205-266-5669

john.marbury@colonybank.com

NMLS #740833

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