CENTURY 21, Southern Comfort Realty, Inc.
Serving Buyers and Sellers in Charlotte, Denver, Lake Norman and most surrounding areas.
Patrick Burno, Broker/Realtor.
Call me today for all your Real Estate needs!
Each CENTURY 21 Office is Independently Owned and Operated.
©2008 Century 21 Real Estate LLC. CENTURY 21® is a registered
trademark licensed to Century 21 Real Estate LLC.
Equal Housing Opportunity. Website Design by Patrick Burno. Copyright © 2008. All
Rights Reserved.
MORTGAGE
What's the First Step in the Financing Process?
Getting pre-qualified helps you determine how much home you can afford,
based on specific financial information you share with your lender. The lender does not verify this information, and consequently
there is no guarantee you will qualify for the loan amount. However, getting pre-approved requires that the lender verify your financial
information, and does serve as a commitment to lend a specified amount based on that verified information. This gives you significant
buying power with a seller who recognizes you will be approved for a loan.
More About Pre-Qualification
Pre-qualification
is an informal discussion between borrower and lender. The lender estimates the amount that you can borrow based solely on what you
tell them about your income and assets. The lender does no verification and is not bound to make the loan when you're ready to buy.
On the other hand, loan pre-approval is based on documented and verified information regarding your employment, your income, your
liabilities, your assets and the cash you have available to close on a home purchase.
Pre-Qualification
vs. Pre-Approval
To a seller, a lender's pre-approval letter is considerably stronger than a pre-qualification letter. If a seller
knows your financing is secure, your offer is stronger. Pre-approval also gives you peace of mind as you shop for a home, knowing
that you will qualify for the proper mortgage amount.
For more financing information or to schedule an appointment with Our
Mortgage Partner click the link, call or email us.
This calculator allows you to figure out your monthly payment for fixed-rate or adjustable-rate
loans. It also allows you to calculate the breakdown between principal and interest in payments over the loan term.
Rent vs.
Own Calculator
This calculator allows you to calculate the difference between renting a property and buying a home.
Calculate
Annual Percentage Rate (A.P.R.)
This calculator allows you to calculate A.P.R. for fixed-rate or adjustable-rate loans, as defined
by the Federal Truth In Lending Act.
Debt Consolidation Calculator
This calculator helps you to figure out if you can consolidate
your debt by lowering the monthly payment, or pay off debts sooner.
Prepayment Savings Calculator
This calculator helps you
to determine how soon you can pay off your mortgage by making a prepayment, or how much prepayment you should make by shortening the
time to pay off your mortgage.
Tax Savings Calculator
Based on the loan amount, interest rate, federal tax rate, and other entries,
this calculator will determine the estimated tax savings of a period of years if the transaction is completed.
