I contacted Lima One for a prequalify. They said they could that. So today I find out that they pulled my credit report and need me to finish the required paperwork that’s left to do for underwriting. I wanted to find out what I qualified for first so I would know what I had to work with and I still don’t know. Should I proceed not knowing what the amount is? I would like to get my first property this year but I don’t want to get an amount that I can’t purchase with and then I have to take another hit on my credit report for someone else.
Hello Lisa -- full disclosure, I work for Lima One.
We reached out to your sales representative yesterday. She should be in touch regarding the status of your line of credit application. When approved for a LOC, you will know the exact amount for which you are qualified. Do reach out if I can ever be of assistance. We look forward to establishing our financing partnership together!