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Cane Heritage Realty
560 Front Street
Natchitoches, LA 71457
Phone: 318 357-8220

caneheritage@suddenlinkmail.com

Licensed in Louisiana

Thank you for visiting us today!  If this is your first visit, take your time and look around.  Our site contains a lot of valuable information and resources for you to take advantage of.  If you are a return visitor, welcome back!  For assistance, please call or email us anytime.  Our team of Natchitoches real estate experts will provide you with the best service and results. 

 

LINKS

 Natchitoches Online

 Natchitoches.net

 City of Natchitoches

 Natchitoches Chamber of Commerce

 Northwestern State University

 Retire Natchitoches

 Realtor.com

 GreatLouisana.com

 HomeGain.com

natchitoches-realestate.com

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Getting a Legitimate Lender and Getting Pre-Approved

It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

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