okay, I called on a condo that DH and I are interested in, they asked if I have been pre approved I said no..they connect me through to that department..They are processing it now..since they pre approved me, is that who I HAVE to get the mortage through? We want to make an offer ASAP, that is why I did not mind being connected through, they are a one stop shop realty business, so they might be great, but I wanted to research rates a little more throughly. It is out of state, so the easier the better, and a great deal. TIA
kpny622
Posted:
Member since
Re: Pre approval
you don't have to use that company even if pre-approved
we changed our mind after being pre-approved and went elsewhere
a pre-approval isn't even binding so until you sign those papers, don't worry about it
Janice
Posted:
Member since
Re: Pre approval
Posted by kpny622
you don't have to use that company even if pre-approved
we changed our mind after being pre-approved and went elsewhere
a pre-approval isn't even binding so until you sign those papers, don't worry about it
thanks..1 more question though, so when we get pre approved-we can put a bid in, then go to a different company for the loan...I will basically stay with this company as long as the rate is competative and there is no fee for early payoff..DH loves ING, and he also wanted to go through a credit union too..but the condo is in a competitive area where we won't have any time to waste
cluelessbride
Posted:
Member since
Re: Pre approval
Posted by Janice
Posted by kpny622
you don't have to use that company even if pre-approved
we changed our mind after being pre-approved and went elsewhere
a pre-approval isn't even binding so until you sign those papers, don't worry about it
thanks..1 more question though, so when we get pre approved-we can put a bid in, then go to a different company for the loan...I will basically stay with this company as long as the rate is competative and there is no fee for early payoff..DH loves ING, and he also wanted to go through a credit union too..but the condo is in a competitive area where we won't have any time to waste
Yes, I think this is the case, you can put it your bid but switch to another mortgage co/bank/credit union before contract...or is it before closing??? Anyone know???
ThongLori
Posted:
Member since
Re: Pre approval
We were REQUIRED to get pre-approved by a certain mortgage company before we signed the contract, but we did not like them. So, after we got the required approval and the contract was signed by both parties, we shopped for our mortgage -- that is when we chose another lender and got our committment letter.
DjPiLL
Posted:
Member since
Re: Pre approval
Posted by ThongLori
We were REQUIRED to get pre-approved by a certain mortgage company before we signed the contract, but we did not like them. So, after we got the required approval and the contract was signed by both parties, we shopped for our mortgage -- that is when we chose another lender and got our committment letter.
This is usually considered best practice. Especially when rates are changing daily.
