Mortgage Pre-Qualification and it's Benefits
Except for when you intend to pay for your purchase in cash, it is essential that you are pre-qualified with a New York City mortgage company. Not many of the major mortgage lenders that exist nationally are available in New York because co-operatives tend to be popular in the city but as long as there's a need to be served, you'll always find a mortgage lender for pre-qualification purposes.
There are a number of reasons why it is important to be pre-qualified.
  • A pre-qualified buyer is usually a better option for sellers as they understand that you are serious and prepared to make a purchase. In addition to this, when you are pre-qualified you also receive preferential access.

  • Pre-qualification provides a better understanding of the actual price range you can afford and this helps you focus better in terms of what you may want to buy. A lot of buyer's can usually afford more than they actually believe they can.

  • Buying NYC apartments is a big step, so when you are competing against other buyer's and you are armed with a pre-qualification from a recognized mortgage lender, your offer will be treated with preference.

  • If you are pre-qualified and your offer is accepted, the fact that you are pre-qualified will speed up the rest of the purchasing process, if you are not pre-qualified, your offer will need to undergo much more scrutiny before finally sealing the deal.


Contact us and we can help you get a free mortgage prequalification.

Mortgaage Pre-Qualification

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