Very few of us can purchase a property for cash. We must rely on a banker or a lender to loan us the money. We also rely on them to tell us what we can afford to purchase. Thus, qualifying to purchase a home is really qualifying for a loan.

        There are many loan programs available, and they change every day. They all have rules that determine the amount they will loan to you. These rules are based on:

• Your down payment
• Your credit history
• Your savings
• Your debt
• Your on-going income

Pre-Qualification

       We highly recomend that all of our clients become Pre-Qualified prior to starting to look for a house. Otherwise, you do not know what you can afford to purchase (as determined by the lending industry guidelines). All lenders and banks can Pre-Qualify you. They will also give you a letter stating that, based upon their preliminary investigation, you are qualified to purchase a home up to a certian price. They will do this based upon verbal information as well as a quick credit check.

        It is imperative that clients do not give false, partial or misleading information when applying for a loan. Before a loan receives final approval all information will be discovered. Missing information will only cause delays, and possibly caues the loss of the desired property.

        The benifits of Pre-Qualification are twofold. First, it tels you what you can afford and second, it can be used in the negotiations as it shows that you are a solid buyer, and can afford the property.

Pre-Approval

        Of greater value in negotations is a formal Pre-Approval for a loan. This is a full approval for a loan up to a specific amount. The specific amount is subject to an acceptable appraised value of the desired property, and a clear title. The process requires the compleation of a loan application, obtaining a full credit check, and a collection of many financial records. With a Pre-Approval you are ready to make an immediate purchase within a very short time. Sellers and their agents like this and will often give you preference.

Cash Requirements To Purchase - Payments 

        NET Real Estate will give you a close estimate of your costs to make the purchase, including the cash required and your monthly payment.

Loan Broker

        NET Real Estate is also a fully registered loan broker, and is capable of handling your financial needs. Please refer to the Loan Section for additional information on the loan process.