Dave Kibbey and Associates
Broker Associate
Office: (760) 844-7759
Cell: (760) 774-0105
Fax: (760) 561-9333
dave@teamkibbey.com


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Financing Roadmap

Getting Started Shop for a Loan Know the Numbers Get Pre-Approved Application & Processing Funding

Does it Help to be Pre-Qualified by a Lender?
The pre-qualification process can be completed fairly quickly, based on less information than is required for getting pre-approved. While it is fast and it does help, a pre-qualification letter is an opinion from a lender of the maximum amount of real estate you can qualify for. In a competitive seller’s market, an offer from a buyer with a pre-qualification letter could lose out to a person who is pre-approved.

Get Pre-Approved by a Lender
There are several benefits to going the extra mile and getting a pre-approval letter. First of all, you will know exactly how much real estate you can afford. When you find a property you want to buy, your offer will be in a better positioned than someone less prepared. Finally, being pre-approved is more efficient; it reduces the amount of time it will take your lender to fund your loan. Be prepared to provide comprehensive documentation, which the lender may independently verify, including but not limited to:

Job and career status
Income
Monthly debt payments
Cash available
Total assets and debts


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