Why you should pre-qualify for a mortgage before you start your WNY home search! 22

Mortgage Pre-approval Advantages

Knowledge — You will know exactly how much you can afford before you start home shopping.
Competitive advantage — Sellers and real estate agents will consider you a serious buyer.
Speeds time to closing — Since you are preapproved you can move into your dream home much faster!

Know Exactly How Much You Can Spend!

You might have an idea of the loan payment and mortgage you can afford in Western New York. Lending requirements are changing rapidly in today’s market so the bank might not agree with your thinking. Do you really want to find the absolutely perfect home only to find out you cannot get the mortgage for it?

It’s always best to pre-qualify for a mortgage so you know exactly how much you will be able to borrow. In the pre-qualification process, you will find out:

  • Exactly how much home you can afford.
  • Your minimum down payment, and advantages of higher down payments.
  • What the bank feels you can afford for a monthly payment.

What does a Sample Letter Look Like?

Dear Mr. & Mrs. Buyer,

Congratulations! Based on the information provided to us, we have pre-qualified you for the following:

Loan Program: 30 Year Fixed Rate

Term: 360 months

Qualifying Rate: 5.750%

Estimated APR: 6.295%

Loan Amount: $107,500.00

Maximum Loan To Value: 80%


This pre-qualification should give you a general idea of your borrowing power. This is not a pre-approval and it is just an idea of what you can afford to purchase. For even better buying power, you should get pre-approved for a mortgage. This will give you better bargaining power at the time of an offer on a Western new York home. If you are ready to take the next step please give me a call at (716) 650-0051 for a selection of Mortgage Professionals that you can work with to obtain this pre-qualification.

Selection of Featured Homes for Sale:

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.
Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2014 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.


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About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with J. Philip Real Estate specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.