A real estate professional based out of California, Eliseo Delgado Jr. has worked for years with The Mortgage Guys helping clients secure mortgages and find homes that fit their unique needs and preferences; Below, he helps readers understand the difference between pre-qualifications and pre-approvals and how they affect the home buying process
Eliseo Delgado Jr. receives rave reviews from his clients who have experienced his insightful real estate industry knowledge and his dedication to homebuyers first-hand. Many of his clients are unaware of the differences between pre-approvals and pre-qualifications, and he helps them understand how they differ and which they should aim to get.
“You’ll find some companies and agents use the terms pre-qualification and pre-approval interchangeably, but they mean very different things,” says Eliseo Delgado Jr. “Pre-approvals tend to hold a lot more weight with lenders and home sellers than pre-qualifications do, for starters.”
In order to get approved for a mortgage, Eliseo Delgado Jr. tells us, you have to first allow a lender to review your financial situation and determine that you’re eligible to make regular mortgage payments. During this time, the lender will also be able to determine how much money you can afford to borrow, how much the interest will be on a mortgage, and how low or high payments will be each month. This will ultimately allow you to narrow down your home search and find the right house that makes the most sense financially.
“Consider things from a seller’s perspective,” says Eliseo Delgado Jr. “They want to sell their home to someone who can afford the property and who will be able to make payments on time and make a smooth transition to the new owner. Without confirmation from a lender saying you can take on the house financially, it’s hard for the seller to take you seriously as a buyer. They’ll likely move on to someone else.”
When lenders talk about pre-qualifications, they typically mean that they’ve collected some basic financial information from a potential homebuyer and have estimated how much they can afford. However, this estimate is usually a ballpark figure and a rough estimate, to say the least. Sellers will want to see you working with a lender, and although lenders may hand out pre-qualification letters, they don’t have nearly as much value as a pre-approval letter.
Pre-approval, on the other hand, requires lenders to verify more solid information to verify your financial standing. They will likely look at W-2s, bank statements, and pay stubs. Through these, the lender can gain a more accurate picture of the types of loans you can get and how much you can afford overall.
“While they both can be useful when looking for a home, the pre-approval ultimately holds a lot more power and will be the one you want to get before speaking with sellers,” says Eliseo Delgado Jr.
Eliseo Delgado Jr. has spent years building up the team of licensed loan originators at The Mortgage Guys, gaining a reputation for outstanding leadership and achieving extensive company growth. His work is highly appreciated by his clients, which is made evident on websites such as Zillow where they leave rave comments and reviews.
At The Mortgage Guys, Eliseo Delgado Jr. helps clients find quality and affordable housing while equipping his team for success long-term. He’s helped his company expand its offerings and grow into an industry leader on the West Coast. A proficient leader and real estate professional, Delgado established a positive reputation among his peers and clients, many of whom leave reviews on platforms like Zillow praising his work.
Zillow is a website where potential renters and buyers can find maps of available homes based on location searches. It provides housing market trends, home costs, photos and digital tours of its listings, and connects users with real estate professionals like Eliseo Delgado Jr. Also on Zillow, clients can leave reviews about the real estate professionals they work with, and the clients of Delgado have each given him a 5-star rating.
One satisfied client discusses his great experience working with Delgado during his purchase of a new home. He describes how professional Delgado was throughout the process and how he especially pays attention to detail. Another common review for Eliseo Delgado Jr. is his dedication to being informative up front and available to answer any and all questions during the process.
“Eli kept close communication and even would call just to let me know how everything was going with the home loan,” says one client. “Eli has a great team and are all professionals and have the same great work ethics. Eli was able to get me into my home in exactly 1 month from the time we made an offer to when I received the keys to my new home.”
One client had this to say about Delgado’s professionalism:
“I purchased my home using Eliseo, and then a year later I used him for a refinance. I was very satisfied with his work. He was always available when I called to ask questions, and if it was something he had to look into, he would get back to me in a timely manner. I feel as a buyer being in the loop and updated is important. He works hard to get you the best deal possible and I recommend him to anyone.”
Another satisfied client commented:
“My family and I were looking to purchase our new home. Eli helped us with our pre-approval, all the way up until closing. He was always available for any questions we had and he made the process as easy as possible. I highly recommend Eli if you are looking to buy a new home, especially new buyers.”
Eliseo Delgado Jr. is also careful to respond to each of his clients’ reviews, giving more details about his side of the transaction and thanking them. All in all, his clients agree that he’s the very definition of a professional and proves his dedication and care to clients through his work in real estate.
An experienced leader in the mortgage lending industry, Eliseo Delgado Jr. has helped train and build a reputable team of licensed loan originators while ensuring growth at The Mortgage Guys. His dedication has helped the company expand its offerings and secure a reputation as one of the best lenders in the industry.
Eliseo Delgado Jr. is a valued mortgage lending professional who has nearly two decades of experience in the field. As a result, he’s established a strong reputation for leadership and helps build and train new leaders at The Mortgage Guys, using his extensive understanding to equip all employees for success.
He helps countless homeowners and families understand the benefits of owning a home instead of renting property, and assists them in securing loans that meet their needs and expectations. At The Mortgage guys, he runs a team of licensed loan originators that follow in his footsteps and connect people with the most appropriate loans for their unique situations.
The Mortgage Guys is a full-service mortgage company that represents clients in California in a broad spectrum of classes. It had its start in the industry in 2013 and brought on valuable team members like Eliseo Delgado Jr. to establish the company as an industry leader. The Mortgage Guys offer residential mortgages, hard money lending, FHA financing, VA financing and many more. They’ve refined their business over the years by fostering a culture of partnerships in which all clients qualify for their needs. Today, the company is committed to helping clients understand the entire lending process and making sure transactions run smoothly and are completed thoroughly.
“We’re all dedicated to our customers and want only the easiest and most beneficial loan transactions for them,” says Eliseo Delgado Jr. “We strive to go above and beyond expectations by doing things like reviewing loan payments of current home owners and investors and pulling every string we can to beat those terms.”
Eliseo Delgado Jr. also says that regardless of any market changes, the team at The Mortgage Guys always has a solution for any scenario and is ready to answer all their clients’ questions and concerns up front. Their agents collectively share an extensive knowledge base of contacts, spheres of influence, and general expertise to deliver better representation to their clients. They are adamant about only bringing on truly qualified Loan Professionals to their team, and today are composed of more than fifty licensed Loan Officers with the majority ranking as top producers in the nation.
To date, The Mortgage Guys have closed over $10 billion in transactions and have established great relationships with top lenders around the country. All team members strive to ensure their company defines what a quality mortgage lender should be for both agents and clients.
“We work hard on maintaining our existing relationships with lenders and constantly add in new lenders to continue providing all possible solutions for our clients’ scenarios,” says Eliseo Delgado Jr.