One of the best pieces of advice for new home-buyers is simple. Complete loan pre-approval prior to their home buying journey. This way the buyer knows how much they can afford. In fact, completing Pre-Approval helps Arizona buyers determine their monthly payment, down payment and loan type prior to looking at homes.
Home Loan Pre-Approval in Arizona
In Arizona, each home buyer must present an Arizona specific pre-qualification letter along with their offer to buy a home. The PQF shows the seller the buyers completed pre-approval with a mortgage lender.
Your Arizona PQF
The Arizona Pre-Qualification Form outlines key info about the buyer. For example:
- Mortgage Type
- Pre-approved loan amount
- Supporting documents lender has reviewed
- Home Loan’s basic terms
Every seller wants to know that a mortgage lender has confirmed an Arizona buyer’s income, assets and credit are sufficient to qualify for a home loan. Providing a Arizona PQF accomplishes just that. As a result, Arizona home-buyers shop for their dream home with confidence.
By Jeremy House