Pre-qualification is a very quick process, and enables you to know what price you can afford based on down payment, your debts, etc. Pre-approval is a bit longer process, but can be done relatively fast. Pre-approval means your credit, employment, funds, etc. have been approved by the lender. Closing costs are charges paid to different entities associated with the real estate buying process. Closing costs you may incur include application fees, appraisal fees, attorney fees, county or city taxes, credit report, document fee, escrow fees, Home Owner Association fees, loan fees, mortgage insurance fees, points, title insurance, etc.
Different lenders charge different amounts of points.
Title insurance protects the insured against loss due to defects, liens, encumbrances, etc. We recommend everyone to get a home inspection done. The cost is minimal, and may detect damage not visible to the untrained eye. Therefore, we do not require you to stay in a listing agreement contract with us if you are dissatisfied with our services. This assures you that we will do our best to exceed your expectations.