A pre-approval tells you, and the sellers you make offers to, how much you can borrow before you start touring homes. In Durango’s market, where good listings can move quickly, having one in hand before you shop can make the difference. Here is what the process looks like and what to gather.
A pre-qualification is a quick estimate based on what you tell a lender. A pre-approval goes further: your income, assets and credit are actually reviewed, so the number is much more reliable. Most listing agents in La Plata County will want to see a pre-approval letter with your offer.
Ready to start? Call Peter at (970) 828-1610 or read more about working with a local Durango mortgage broker.
Animas Mountain Mortgage Inc. NMLS #1742747 | Peter Pritchard NMLS #404172 | CO License #100009365 | Equal Housing Opportunity. This is not a commitment to lend. All loans subject to credit approval.
The Fed’s campaign of interest rate hikes spanned over 18 months, representing a significant intervention in the central bank’s history. These measures have transitioned the Fed into a phase of observation, as it awaits indications of declining inflation rates towards its 2% target, as measured by the Personal Consumption Expenditure (PCE) index, a preferred inflation gauge.
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So that’s my goal here – to shed some light on what the Federal Reserve is and how it impacts your finances and investments.
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