Released on = April 25, 2007, 2:40 pm

Press Release Author = GoldMedalMortgage.com

Industry = Financial

Press Release Summary = Get a free California mortgage loan pre-approval letter to
make real estate search easier. You will know what you can afford. Real estate
agents and sellers also treat you as a qualified buyer.

Press Release Body = If you are looking for California real estate make your search
easier by getting a free mortgage loan pre-approval letter first. A free
pre-approval letter lets you know the maximum loan amount obtainable.

With a California home loan pre-approval letter, real estate agents are more
inclined to work with you, and show properties in the specific price range of the
maximum mortgage. Sellers and listing agents also take an offer more seriously if
the home mortgage loan is already pre-approved.

Many first time home buyers confuse being \"pre-qualified\" with \"pre-approved.\"
Pre-qualification is a casual process, where the potential buyer how much may be
borrowed based on income, existing debt, and cash down payment.

A pre-qualification may be a form letter or personalized, but will contain
disclaimers to protect the lender in case the borrower fails to qualify. Some real
estate agents feel that pre-qualification letters say little more than you have
contacted a California mortgage company. Before a lender will make the loan, a
formal loan application will be required.

In contrast, pre-approval letters have far more validity and indicate to the seller
that the borrower has passed the credit check and have preliminary loan approval. To
obtain pre-approval letter a formal loan application is submitted with all the
relevant documentation. Everything is verified and credit is checked, then the
California mortgage lender agrees in writing to make the loan. The loan will be
subject to a satisfactory property appraisal and title search.

A formal loan application process is an eventuality, so we recommend obtaining a
loan pre-approval in advance. By doing so, you avoid any disappointment of making
offers outside of your price range, and get far more cooperation from agents and
sellers because they will feel that their time is not being wasted.

For more information on obtaining a free pre-approval letter for a California home
mortgage loan please call Goldmedalmortgage.com at 866 398 4664 or go to:
http://www.goldmedalmortgage.com/Mortgage_Pre_Approval

Web Site = http://www.goldmedalmortgage.com/Mortgage_Pre_Approval

Contact Details = GoldMedalMortgage.com
California
866 398 4664