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All agents are NOT alike! Find out why I am a top real estate expert. Call me: Direct 804-591-3872 or Main Office 804-262-2611.
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Client Appreciation Information: Important topics for Richmond, Glen Allen and Ashland homeowners
from Linda R. King, top Realtor |
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Special Offers: Special offers for Richmond, Glen Allen and Ashland homeowners
from Linda R. King, top Realtor |
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Affiliates: Linda R. King's real estate web site
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eNewsletter: Linda R. King's Richmond, Glen Allen and Ashland newsletter email will
send you the latest real estate information |
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Today's Real Estate News: Daily real estate news for this neighborhood, Virginia, and
United States |
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Market Conditions Report: Market conditions report for this area, Virginia, and
United States |
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Monthly Payments & Schedule: Monthly loan payments java
mortgage calculator |
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How Much Can You Afford?: Calculate how much home
you can afford with this financial calculator |
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Determine Tax Savings: Calculate how much your
monthly Richmond, Glen Allen and Ashland Virginia mortgage payments save you on your
taxes because of loan interest |
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Should You Rent or Buy?: Is it better to rent a
home in Virginia or buy your own Richmond, Glen Allen and Ashland house, ranch,
luxury property, condominium, acreage, or other real estate? |
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Adjustable Rate Mortgages: Adjustable rate
Richmond, Glen Allen and Ashland mortgages information and interest rate java
calculator |
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What Is Your APR?: Determine the Annual Percentage Rate (APR) for your mortgage. |
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Fixed or Adjustable Rate Mortgage?: Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
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Are Balloon Mortgages For You?: Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers. |
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15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms. |
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How Much Should Your Income Be?: What income is required to qualify for a mortgage? Use this calculator to find out. |
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What's Your Maximum Mortgage?:This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount. |
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Will Buying Points Save You Money?:This calculator helps you determine if you should pay for points, or use the money to increase your down payment. |
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TripleCalc: FREE Software
Download: TripleCalc lets you compare three loans at one time for your property
or other Virginia real estate |
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Top National Real Estate Web Sites: Real Estate Web Sites
that include some unique sources of realty information, listings, and
more |
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Ask Anything: Ask Linda R. King
anything real estate |
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NUMBER1EXPERTS: List of all the NUMBER1EXPERT real estate agents and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale |
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Real Estate Tips: Linda R. King's realty
library of real estate tips and advice on everything from preparing your home
for sale to negotiating with home buyers to escrow, closing costs, property
inspections, and mortgage brokers |
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Real Estate Trivia: Linda R. King's collection of real estate trivia questions
and answers that include real estate topics such as the most expensive home,
largest swimming pool, and more |
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Real Estate Dictionary: Complete real estate
dictionary and glossary of realty words you'll use when you list and sell your
Richmond, Glen Allen and Ashland property in Virginia, including legal terms
definitions, and more |
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Financing Your Home >Qualifying For A Loan
It is useful for home buyers to understand the difference between loan pre-qualification and pre-approval. Pre-qualification, which in today's marketplace is usually done by mortgage brokers, means working with the buyers to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save buyers time and money and can even be a bargaining tool with a seller. However, pre-qualification is not the same as loan "pre-approval". The mortgage broker can often get the buyer a pre-qualification letter, but pre-approval must be issued by the mortgage lender.
Pre-approval means that the lender has definitely committed to loaning the buyer money, once the house itself is approved. Since it is a much stronger pledge, it is a much more valuable negotiating tool. When you hear someone talking about "pre-approval", they are referring to specific acknowlegment by a lender that they are willing to loan the buyer money. The real estate agent can be of assistance in this process.
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| Q |
What is arguably the world's strangest (and most dysfunctional) kitchen?
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In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California. |
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- NUMBER1EXPERT™ 
