Mortgage Articles Your Las Vegas Mortgage Prequalification Letter Tip! You must understand that the same mortgage rate can be said a number of ways. You can calculate a mortgage rate very differently with the same end result, but the numbers may be drastically different from the start. Because this is the case, some mortgage companies use lower numbers to quote the same mortgage rate because they want to attract more customers. Avoid this by being very specific about your mortgage rate when you call competing companies. Ask for the annual percentage interest rate (APR) in order to standardize your results. You can also ask for a lender’s mortgage rate in terms of effective monthly interest rate. Be sure to ask for the mortgage rate the same way from each lender so you can better compare results. Congratulations on your decision to move to Las Vegas! Once simply a quiet casino outpost, Las Vegas has been transformed into a thriving entertainment mecca and remains one of the fastest growing cities in America. If you are planning to purchase property in Las Vegas, you can expedite the process by having your mortgage prequalification letter in hand before you begin looking for a home. Read on and we shall see why this all important step can ease your home buying experience. A Las Vegas mortgage prequalification letter is issued by a mortgage company to let you know exactly how much of a home you can purchase. It tells sellers and real estate agents the following about you: You are ready to buy. You are qualified to purchase a home within a specific price range. You are a good customer. Indeed, a seller is more likely to consider you as a purchaser if you have already obtained this all important letter. When multiple bids are being tendered, the seller will consider those offers backed by a prequalification letter first. Don't let your Las Vegas dream home slip through your fingers just because you forgot this important step. Get qualified for a Las Vegas mortgage today to show everyone that you are a serious homebuyer. Copyright 2006 - Matt Keegan is a freelance writer for John Vanhara who is President & Broker of MillionSaverHomes.com a Las Vegas Real Estate company helping to make Las Vegas home ownership a reality for thousands of home buyers from across the USA.