Prequalification vs Preapproval - buy a home in aspen
Prequalification and preapproval are two very different things – but if you’re buying a home, you need to know which is better and what will help you most, particularly if you are a first time buyer.

What is Prequalification?

During the prequalification process, you’ll find out how much a lender may be willing to let you borrow.
You won’t have to go through a credit check during prequalification. You’ll just need to discuss your current financial circumstances with a lender, including your assets, your income and your debt. Once you’ve given the lender an overview of your financial circumstances, they’ll tell you approximately how much money you may qualify to borrow if your circumstances do not change.

What is Preapproval?

Loan preapproval is different from prequalification in that you must verify your financial circumstances with the lender. You’ll go through a credit check, and you will be asked to bring in pay stubs, tax returns, and other documentation that helps a lender verify that you are telling the truth about your financial circumstances.
The lender will preapprove you for a specific amount of money, and as long as your financial circumstances do not change by the time you officially accept the terms of the loan, it’s safe to assume that you’ll qualify for the same amount when you’re ready to buy.

Which is Better?

Sellers can take your offer more seriously if a lender has preapproved you. A preapproval shows sellers that you actually qualify to buy the home, and it can give you an edge when other people are also making offers.

Are You Buying a Home in Aspen or the Surrounding Communities?

If you’re buying your first home in Aspen or the surrounding communities, we can help. Call us at 970-429-8275 or get in touch with us online to tell us what you need so we can begin searching right away.


Invest in Your Aspen Dream: Development Property with Rental Income! Nestled in a serene neighborhood within walking distance to downtown, this duplex lot offers an enticing investment opportunity with the added bonus of owner-occupancy potential. Outfitted with two separate homes, it presents the ideal scenario for living in one unit while renting out the other, providing both flexibility and income potential. Additionally, the quiet neighborhood setting ensures a peaceful retreat while remaining close to the heart of the action. Contact me for more information today or to schedule a showing! $4,695,000 Active

548 Spruce Street Aspen, Colorado

5 Beds 4 Baths 2,958 SqFt 0.170 Acres

Truly a special home in the Little Cloud enclave, just a stone's throw from the Gondola, this beauty has floor to ceiling windows and doors on all but the lowest level, offering magnificent views of the Aspen area. The luxurious furnishings are all in muted shades of whites and grays and one of the focal points of the home is a lighted glass stairway. In case you don't want to take the stairs, there is an elevator that reaches all floors, including the roof top deck. Every bedroom has outdoor access to all the different patio decks. STR.0064.2023 $750,000 Active

19 Little Cloud Trail Aspen, Colorado

7 Beds 11 Baths 10,644 SqFt 0.370 Acres

Introducing our elegant, European inspired 9000+ square foot Villa in one of the most private areas of Aspen near the Aspen Institute and minutes from Aspen's Core.  Situated on over half an acres in a wooded setting, privacy is ensured.  A gracious circular snow melt driveway leads to the beautiful wood double doors which open to a high ceiled entry.  The exterior stone flows into the interior through the stone staircase that curves gracefully up the stairs to the main level which encompasses the office, primary bedroom and ensuite, and the main living area.  Soaring ceilings of honey colored wood contrast beautifully with white walls and the elegant black columns that support the vaulted, beamed ceiling add a beautiful accent to the honeyed tones.  Huge windows accented in the same honey wood give the feeling of being outdoors.  The furnishings echo the sophistication of the architecture with warm wood tones, neutrals, and texture.  The stone woodburning fireplace carries on the theme.  Around the corner is the 'wet' bar with glass cabinets, mini fridge and seating for 4.  The dining room has a beautiful honey wood table which matches the beams and seats 12.
The kitchen is the sought after 'white kitchen' with accents of black.  It has a gas cooktop with 6 burners and a griddle, double refrigerators, double sinks and banquet seating for breakfast dining.
Turning left from the front stairs is the office which features stone floors, soaring windows, built-in cabinets and bookshelves, a beautiful black desk and large screen TV.  Next door is the primary suite with a king bed, multiple windows which allow the light to shimmer over the neutral shades and knubby texture of the furnishings, built-ins and two closets.  More closets can be found in the ensuite which has an enormous, jetted tub, a steam shower and double vanities. 
One level down is a great surprise, a large indoor pool and hot tub with a cascading water feature at one end and an atrium ceiling that opens.  A large media/game room looks out over the pool through a wall of glass doors.  A large screen TV on the far wall and an elegant copper bar at the other end of the room make this a perfect entertainment space.
Four of the guest rooms are on the lower level, all are private, all have ensuites, and all have steam showers.  The fifth guest room is off the media/game room and has access to a bath down the hallway.
A full gym in the garage, large laundry room with two washers and two dryers, AC throughout, radiant heat, grassy backyard area, numerous decks, an outside grill put the icing on the cake.
Offered short term or long term, you will have the ultimate Aspen experience while vacationing in this gorgeous Villa. $250,000 Active

800 ROARING FORK Road Aspen, Colorado

6 Beds 8 Baths 9,286 SqFt 0.680 Acres

Aspen Victorian transformed, great core location, air conditioning on the main and top floors for summer months, stunning contemporary interiors with wide plank ash hardwood floors, granite and marble slab counters, rooftop terrace and hot tub. $200,000 Active

202 N Monarch Street Aspen, Colorado

5 Beds 6 Baths 4,611 SqFt 0.120 Acres