Summary

In this conversation, Ben and Clint discuss the importance of pre-approval letters in the home buying process. They emphasize the need for buyers to find a lender they are comfortable with and to understand the difference between pre-approval and pre-qualification. The discussion covers various aspects of financing, including the importance of considering ancillary costs, the role of local versus out-of-town lenders, and the significance of shopping around for the best loan products.

Takeaways

· Pre-approval letters help buyers understand their budget.

· Buyers should consider their comfort level with monthly payments.

· Lenders should provide realistic numbers for pre-approval amounts.

· It's important to match the pre-approval letter with the offer made.

· Local lenders often provide better communication and reliability.

· Buyers can shop around for the best lender without impacting their credit score.

· Pre-qualification is less meaningful than pre-approval.

· A pre-approval indicates a deeper verification of financial information.

· Buyers should evaluate lender offers carefully before making a decision.

· Local lenders contribute positively to the local economy.

· Not all lenders are equal; choose one that communicates well.

· Understanding ancillary costs is crucial in the home buying process.

· It's important to compare offers from different lenders.

Sound Bites

"Lenders are not created equally."
"You should shop for the best deal for your money."
"Local lenders help the local economy."
"How does applying for multiple pre-approvals impact my credit score?"

Chapters

00:00 Teaser: Setting a Realistic Budget

00:19 Show Intro

00:33 Understanding Pre-Approval Letters

11:49 Pre-Approval vs. Pre-Qualification

14:35 Disclaimer

Hosts

Ben Harang, REALTOR®

La. License #: 36589

Keller Williams Realty Bayou Partners

Mobile: 985.859.2500

Office: 985.262.4400

ben@benharang.com

benharang.com

Clint C. Galliano, REALTOR®

La. License #: 995704723

Keller Williams Realty Bayou Partners

Mobile: 985.647.4479

Office: 985.262.4400

clint.galliano@kw.com

clintcgallianorealtor.com

Produced By:
Clint C. Galliano

Music By:
Wiggins Studios