From John Inzeo, Wisconsin Mortgage Corporation
Many potential home buyers ask us what the most important first step in acquiring financing for their home purchase. The answer is easy — get an authentic pre-approval!
All too often we hear lenders exclaim that they can pre-approve buyers without accessing their credit report. Simply put, this is impossible in today’s market. Lenders who give you a pre-approval without looking at your credit report are only giving you a worthless piece of paper, without anything you can actually depend on. In the world of Mortgage Lending today, a quality lender must insist on reviewing your credit report before offering an opinion on whether or not you can qualify for a home loan. Without a credit score, lenders today cannot accurately give advice as to product selection and the cost of acquiring a mortgage, much less quote an interest rate.
Why do some lenders claim to be able to give you a pre approval without accessing credit? Those lenders are building a contact data base, and they see you as merely a commodity and not as a customer. Legitimate lenders don’t adopt this type of business model and offer complete customer service from the very beginning. They see you as a long term customer and work hard to earn your trust and confidence.
Here is that advice I promised — whether in person or online, if a lender claims to be able to pre-approve or pre-qualify you without checking your credit report, find a new lender. If a lender claims to have accessed your credit report and won’t share that information with you (including your credit score data), find a new lender. If a lender won’t take the time to discuss your specific home buying plans but wants you to fill out some sort of online form instead, find a new lender. The bottom line: you are the customer, deserving the time and respect of a lender seeking to do business with you.
As we celebrate our 30th year in business, Wisconsin Mortgage Corporation continues to be committed to our customers. We have built our reputation over these years on a foundation of quality, integrity and honesty. Ask us for a pre-approval and you will receive a free, no obligation, authentic pre-approval including your credit score data and if you wish, a free copy of the report to take with you. Once you receive your pre-approval, we will work hard to earn your business and begin a relationship that we hope will be long term. After 30 years, we have learned that treating people with care is the best way to do business, and that philosophy works no matter where the economy takes us.
One last thing — if you are thinking about buying a home, don’t wait! Home prices are low, as are interest rates and costs. Get pre-approved today and take advantage of the best market in our history. Our best wishes to you for a happy and healthy 2013.
Tags: Credit Score, Mortgage, mortgage rates, pre-approval, Q4, Quarterly Newsletter, real estate market, real estate trends, shorewest, Shorewest Realtors, Wisconsin Mortgage, Wisconsin Mortgage Corporation