Author photo

By Laura Johnson
contributing writer 

'Spring is a time for plans and projects' -Leo Tolstoy


April 13, 2024

Spring is the ideal time to begin searching for that new home. With the warmer weather and longer days, it is a great time to take advantage of viewing open houses to get a better idea of what type of property will suit your lifestyle and budget. However, the biggest challenge during the spring season of house hunting maybe be getting ahead of other prospective home buyers looking for that perfect home.

To be one step ahead of competition, I suggest getting our Nations Lending Accelerated Edge Approval (ACE). The ACE pre-approval is designed to make your offer stand out to both home sellers and realtors. This helps give you an edge over the competition by proving you can close on the deal.

With ACE, the borrower completes the loan application and receives full financing approval from an underwriter before making an offer on a home. At Nations Lending we can provide an ACE Approval letter dependent only on property-related conditions (appraisal and preliminary title report). This differs from a traditional pre-approval which is often done at the loan officer's desk and does not have an underwriter's full review. With traditional pre-approval, borrowers are given an amount they are qualified for and start searching for a home. Once a home is found, the loan officer verifies the needed documentation and moves it to a processor and finally to an underwriter for approval.

Simply put, an ACE approval is a non-contingent approval from an underwriter. The seller and realtors have reassurance that you have already secured financing for the home. As an added bonus, transactions with an ACE approval close in a significantly shorter time period than a traditional pre-approval.

Another advantage of the ACE pre-approval is prior to looking for a home you will have a clearer picture of how much you can borrow, which helps in setting a realistic budget for your home search. Knowing your financial limits can save time and prevent disappointment from looking at homes outside your price range. You don't want to find that perfect home and then find out the projected payment may be out of your comfort level.

By getting an ACE pre-approval we can also identify any potential issues that may arise prior to your making an offer on a home. The underwriter will do a detailed check of your loan application and the required documentation. If additional documentation or corrections are required, we will have already addressed that problem.

Knowing that your loan is essentially approved subject to finding the perfect property can reduce stress and uncertainty in the home-buying process. We believe that the relationship and the trust we build with our clients sets us apart from the typical "one size fits all loan factory." After all, at Nations Lending our motto is, "Home Loans Made Human,"

*Note. All ACE approvals are subject to change and require final underwriting approval.

Laura Johnson has lived in Tehachapi for 49 years and her family's history in Tehachapi spans over 150 years. Laura has been in lending for 14 years and the real estate industry for 24 years. You can reach Laura at Nations Lending, 1054-B Valley Blvd. Tehachapi, (661) 303-7853.


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