It used to be possible for Buyers to go house shopping first and when they found their dream home, they would then go to get pre-approved for financing. However, in today's market, that has proven to be one of the least effective methods in landing your dream home. It's a really good idea to get pre-approved before you shop for a house. That puts you in a better negotiating position and lets the Seller know that you are "serious" about purchasing a house.

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.

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.

The following is a list of local lenders that my buyers have had great success with. Feel free to give any of them a call (yes, even on the cell phone!) They're in business to serve Buyers!

VA Mortgage - Cindy Tolster; office 252-444-5959; cell 252-671-3796. Visit Cindy's website today

Countrywide Home Mortgage - Lola Thomas; 252-447-2580; cell 252-670-2213

F & T Mortgage - Michelle Gregory; office 252-247-7703; cell 252-422-6369

Wells Fargo - Becky Flannery; office 252-637-9494; cell 252-636-9570 Visit Wells Fargo Online