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If you're considering the purchase of a new home, you may be concerned with the issue of finance. Attaining the right mortgage is a key step in the home buying process, but it doesn't have to be a stress-inducing one. Most lenders offer prequalification, pre-approval or both to help you know where you stand. Let me explain the difference between prequalification and preapproval:

  • Prequalification: Prequalification is a preliminary estimate of how much you can afford to pay for a home based on information you provide. Because credit and employment information aren't validated for prequalification, it can only be considered a rough idea of a monthly mortgage payment and loan size. This can be a useful guide as you begin the home buying process, however.
  • Preapproval: Preapproval is a written commitment from a lender to finance your home purchase up to a set amount. This indicates that the lender has taken a close look into your financial history and has agreed to lend you a specific amount of money, reliant on certain details like a finalized sales contract and professional inspection. Pre-approval indicates to sellers that you are a serious homebuyer.

Regardless of which option you utilize, or even if you take both steps, you'll be able to shop with much more confidence. Why wait until you find the perfect home to discover problems with obtaining a mortgage?

If you would like more information on how either process can help you get into the home of your dreams, give me a call. I'd be happy to answer any of your real estate needs.




These lenders have been recommended based on no financial gain to me but on results from successful closings in a smooth and seamless manner.  They each offer differing programs and rates and I recommend you compare to fit your specific needs.


American Bank & Trust                                 

4301 E. 53rd Street

Davenport, IA  52807

Holly Loussaert                        

Office:  563-344-5660

Mobile: 563-370-8700

E-mail: hloussaert@ambankqc.com


IH Mississippi Valley Credit Union

3709 N. Harrison Street Lower Level

Davenport, IA  52806

Chad Mansfield

Office: 309-793-6200 Ext. 75290

E-mail: cmansfield@ihmvcu.org


Caliber Home Loans

1900 State Street, Suite 2

Bettendorf, IA  52722

Cissi Leinonen NMLS#37740

Mobile: 309-912-2507

E-mail: cissi.leinonen@caliberhomeloans.com


Pacific Union Financial

4620 E. 53rd Street

Suite 200, Office 209/210/211

Davenport, IA  52807

Kristen Ockerman

Mobile:  563-940-6484

E-mail Kristen.ockerman@loanpacific.com


US Bank Home Mortgage

5515 Utica Ridge Road Suite 400

Davenport, IA  52807

Dana Goodmiller

Mobile:  563-370-4303

E-mail: dana.goodmiller@usbank.com