2326 Del Prado Blvd S. Cape Coral, FL 33990

Cell 239-823-3631    Toll Free 866-212-6277    Fax 239-997-2694

Member of National and Florida Association of Realtors and Realtors Association of Greater Fort Myers and The Beach
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Whats New

See my composite flyer that includes all the homes I currently have listed for sale.

Herons Glen Website

Herons Glen

Herons Glen is a gated championship golf and country club community with 1,300-homes in North Fort Myers on the northern edge of Lee County Florida where residents own the recreational facilities.

Magnolia Landing Web Site

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The stunningly beautiful greens and fairways of The Golf Club at Magnolia Landing offer one of the most exciting golf experiences of any private country club.


A preapproval is your lender's written commitment to finance your home purchase up to a specific amount. Getting preapproved is a smart move for serious homebuyers because it shows sellers that you come to the negotiating table ready to complete the transaction.
 

Preapproval vs. Prequalification

A preapproval indicates that a lender has taken a detailed look into your financial background and has committed to lend you a certain amount of money, pending specific property details. Because preapproval includes a credit check, it's more powerful than a prequalification letter, which generally only estimates what you can afford based on information you've provided.

 

What are the advantages of being preapproved?

Preapproval offers a number of advantages over waiting to apply for a mortgage until after you've found a home. It lets you:

  • Shop for a home with the confidence of knowing exactly how much you can afford.
  • Take advantage of the preference many home sellers have for preapproved buyers.
  • Find out about possible qualification problems early in the homebuying process.
Who can benefit the most from preapproval?

Preapproval is a great advantage for anyone buying a home, but it can be especially useful for buyers looking for their first home and those who are self-employed or work on commission.
  • First-time homebuyers. Without a record of previous mortgage payments, sellers may see first-time homebuyers as less likely to obtain financing than a similar buyer who's already demonstrated the ability to meet a monthly mortgage payment. A preapproval helps even the field by showing the seller that a lender has already run the numbers and is willing to proceed with the transaction.
  • Self-employed buyers or commissioned employees. Because their incomes may fluctuate more dramatically, self-employed and commissioned buyers often lack the financial documentation of salaried employees, which can send up a red flag to some sellers. Showing that a lender has already considered these factors will help mitigate this risk.
How does the process work?

Before you begin shopping for a home, submit your financial information to your lender. They will review your loan application and then, if you qualify, they will provide you with a written preapproval for a certain mortgage amount, down payment, and interest rate, subject to the terms of the commitment letter. The loan commitment letter can be finalized after information about the property, including an appraisal, is submitted.