Watch the video above and answer the question when you're done.reveal question
What do you think happened to Fast Freddie and Thorough Theodore?
- 1Fast Freddie and Thorough Theodore both closed right on time.
- 2Fast Freddie closed on time, but Thorough Theodore closed late.
- 3Fast Freddie’s mortgage loan fell through, and Thorough Theodore closed right on time.
Turns out that Freddy’s pre-qualification had a lot of PRE, very little QUALIFICATION, and a complete absence of APPROVAL.
A pre-qualification can be done quickly, but without verified information, it may not be worth the paper it’s printed on. A pre-approval is much more thorough and accurate. Once you have one of these in hand, your credit and income are well known. All you’ll probably need to do next is find the right house.
In other words, a little extra spent up front, can actually save you lots of time in the end.Elizabeth, if you want to get pre-approved before you start home shopping, please reach out. I’ll be happy to help!
- 4Both mortgage loans fell through. Poor Freddie and Theodore!