Any lender can send you a pre-approval letter, but not every lender is taken seriously by listing agents or sellers. Using a lender for convenience or an advertised rate is a huge mistake. It will cost you the house!
If you choose a big-name Internet lender with a reputation for lousy service, poor communication, and writing pre-approval letters for anyone, but having issues getting to closing, you can be SURE the listing agent will warn their seller about potential problems. The “convenience” of the big-name lenders isn’t worth it, trust me. And you may be surprised to find that even local lenders have Internet portals, 24/hr help service, electronic signatures and verification, and all the other tools advertised by the big-box lenders. The local lenders just do it all better. Don’t be mad if sellers choose a buyer with a local lender. Don’t say I didn’t warn you.
