The Difference between pre-approval and pre-qualification

By Cheryl Bower | May 6, 2011

For many new homebuyers, the terms pre-qualification and pre-approval seem interchangeable. But they are not — and the distinction is an important one.

When you get pre-qualified, I perform a quick check to determine generally how large a home loan you can afford. Essentially, when a buyer is pre-qualified, the lender is saying it would most […]

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  3. 6 Things To Avoid While Waiting For A Mortgage Approval
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Buying a Short Sale — The Need for Speed

By Cheryl Bower | March 17, 2011

Short sales offer not just a lifeline to homeowners in over their heads, but an opportunity for homebuyers seeking an amazing deal. Better yet, thanks to new regulations, the once lengthy process has recently become considerably more streamlined.

In a short sale, a homeowner that cannot afford to pay the mortgage and the lender that loaned […]

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  2. What You Should Know About Making an Offer on a Short Sale
  3. How “Repair Credits” To The Buyer Can Sabotage Your Home Sale
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10% down and not FHA!

By Cheryl Bower | November 11, 2010

Property type: Three-bedroom, two bath in Half Moon Bay
Appraised value: $585,000
Loan amount: $508,000
Loan type: 30yr fixed
Rate: 5%
Back story:
For a long time in this economy the only way to do a 10% down mortgage was through FHA. This loan makes the blog because it was the first loan we’ve done in a long while […]

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Eight Quick Tips for Living Green

By Cheryl Bower | July 20, 2010

Today, living green isn’t just a lifestyle choice; it makes solid financial sense. As home energy costs increase, homeowners are seeking simple and smart ways to save energy and consequently save money, too. Trying to create a more environmentally sound household doesn’t have to start with taking out a massive loan in order to […]

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