The first step in the loan process is to get pre-qualified.  In fact, most realtors won't begin to show you homes until you are pre-qualified.

In order to get pre-qualified, we must first get to know about you.  We do this by taking a loan application.  We can either take the application over the phone, through our website, by fax, or by e-mail.  The application allows us to look at you and your financial situation.

Once we have your information, we will begin to process the application.  This process includes an examination of your income and assets, and also involves PSP pulling a credit report.  With this information all tied together, PSP can then determine what your current situation is and what you can be approved for.

Getting pre-qualified early in the process of buying your home accomplishes several things:

• It allows you and your realtor to focus only on homes you know you can afford
• It allows the seller to know that you can back-up the offer you make on their house and that you have already begun to secure financing
• It allows PSP Financial to start working for you and getting things out of the way early.  This way when you're ready to close there's nothing holding you back

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