PRE-APPROVAL VS PRE-QUALIFICATION
Knowing the difference between a letter of Pre-Approval and a letter of Pre-Qualification can mean the difference in your house offer being accepted or denied.
PRE-QUALIFICATION means that the borrower has verbalized key qualifying factors of the loan to the Loan Officer. Based on this conversation, the Loan Officer can generate a letter of Pre-Qualification with the documentation of information provided by the borrower to be verified later. A homeowner is not typically apt to accept this type of letter.
PRE-APPROVAL means that in addition to the conversation, the Loan Officer has verified documentation of qualifying factors such as paystubs, bank-statements and W-2's. This allows the Loan Officer to generate a letter of Pre-Approval which shows the homeowner that loan information has been verified and financing is actually available to the borrower at the time the offer is made.
To begin the Pre-Approval process, please click the red "Apply Now" button on the right of your screen.
I graduated in 1991, with a degree in Economics - concentration in Finance. I enjoy spending time with my family, fly fishing, sporting events, movies and golf. In 1992, I became a Loan Officer on the east side of Portland. In 1995, I joined an up and coming mortgage company called Mortgage Market. I was asked to open a Mortgage Market office in Salem in 1997. After two years developing the Salem office, I moved back to Portland, and for fun taught Mortgage Finance at Portland Community College (PCC). I have been recognized in the top 10% nationally in mortgage production, and top 10% in customer service rankings. After nine years at Mortgage Market, I found a better opportunity at Mortgage Express in 2004.
I attribute my success to my honesty, integrity, positive attitude and great pride I take in everything I do. It’s these characteristics that give my clients and realtors the confidence to refer their friends, family and other contacts to me.
I know my actions can directly impact someone's life, so I treat each loan as if it were my own.
Dan is licensed in Oregon & Washington.