Eddie Brissett, The Brissett Group LLC and First Place Realty Group LLC, Pena Realty Corp.Phone: (617) 816-1426
Email: [email protected]
Email: [email protected]
When preparing to buy a home, many potential buyers turn to online preapproval to jumpstart their loan process. While it’s a good idea to compare multiple lenders to find the best down payment option and interest rate, getting mortgage preapproval online can have its advantages.
Prequalification for a mortgage is based on a basic overview of your financial situation and the types of loans available to you. Prequalification is helpful for potential borrowers who want to know their options before getting into an official vetting process.
Mortgage preapproval is the official statement from a lender showing you’re financially equipped to pay for a specific loan. Unlike prequalification, mortgage preapproval requires official financial documents like bank statements, pay stubs and W-2s. It also involves a credit report to gain insight into your financial details.
Many lenders offer online application processes for gaining a preapproval letter. Some lenders operate entirely online, making the process extremely convenient and streamlined. However, you still need to provide specific documents, so it’s best to gather this information beforehand to ensure it goes smoothly.
While preapproval doesn’t immediately give you the money to buy a home, it’s an important step to take in your homebuying journey. Not only do many real estate agents require proof of mortgage preapproval before helping your home search, but it will give your eventual offer more weight in a competitive market.
Getting preapproved for a mortgage loan also means you’ve done most of the work for your mortgage ahead of time, and won’t need to do as much work during closing. This can make your buying process much smoother and quicker, giving you more time to focus on moving into your dream home.
Eddie Brissett is a native of Newburyport, Massachusetts where he attended Newburyport High School. He graduated from Fitchburg State College (FSC) with both a B.S. in Business Administration and an MBA in the late 1990s. He also played basketball at FSC.
In 2004, his real estate dream began when he purchased his first property- a condo. Working primarily in financial services for nearly 15 years, he transitioned into real estate full-time in 2013. He was the Condo Board Chairman (2005-2018) of the Rich Street Condo Association. He credits his parents and mainly his mom as among the biggest influences in his life. As a licensed real estate agent in several states, he serves buyers, sellers, renters, and landlords throughout the commonwealth of Massachusetts, Rhode Island and Florida.
"From an early age, I learned the value of hard work and standing by your word from my parents. These traits along with teamwork were reinforced from some tough sports coaches that I played for."
He enjoys spending his free time with family, friends, hiking, watching Boston sports teams, and is an accomplished billiards player.
