April 15th, 2014 10:00 AM by Eric Fang
Just want to let you know that some lenders will provide you for the super pre-approval for the purchase.Basically they will provide you the pre-approval withyour income, assets, the credit conditions, the sameway as a real loan. The only thing left will be theappraisal report.
With the super pre-approval, then the borrowers cancompete with cash buyers since they will not have financial contigency either. And the seller can makeeasy decisions simply by the higher bid, not necessaryfor the cash offers.
This might be(or might not be) a trend. But some smalllenders are starting to do that for the benefits of the buyers.