Prequalification is an important step in the home buying process. It is simple and allows a mortgage lender to do a snapshot of your credit, debt, and income and give you a projected loan amount that you qualify for. Most REALTORS want you pre-qualified before they start showing you properties. This is because they want to show you homes that you are able to get financing for and that you are actually able to purchase a home. Don’t take it personal. Many sellers want to see a pre-qual letter before they will let their house be shown to a potential buyer.
Your “prequal” is not underwritten by a lender and is not a loan guarantee. It is just stating; “based on the information we have at this point you will qualify for a mortgage loan of $???? ”. A Commitment Letter issued by a mortgage lender is your loan guarantee. This is done after a formal loan application is completed and an underwriter (person who reviews and signs off) approves you for your loan.
Remember that a commitment letter can be revoked based on changes that accrued up to your closing. ALWAYS follow your loan officer’s guidance
Working with a local, family owned real estate company means that you get someone who knows the area and has a real interest in helping you find the perfect home. Our company has grown because of referrals from past clients. We believe that treating the customer right is the only way to do business. 
