Pre-Approval Makes All the Difference When Buying a Home

You have likely heard that if you are looking to buy a home, it is a good idea to get pre-approved at the beginning of the home buying process.  But do you know why?

We all know that today’s Real Estate market is crazy, with rising home prices & high buyer competition.  It is important for you to have a clear understanding of your budget and know what you truly can afford.  If you find your dream home and go up against multiple offers, it is too easy to get caught up in the excitement of getting the home and offering more than what you are comfortable with.

By having a pre-approval letter from your lender, you are telling the Seller that you are a serious Buyer, and you have been pre-approved for a mortgage by your lender for a specific dollar amount.  If you are in a bidding war, your offer will likely get dropped if you don’t have a pre-approval letter.

In fact, some agents prefer to not even show a home to a Buyer if they have not been pre-approved yet.

Hot tip:  Once you make an offer, have your lender call the Seller’s real estate agent & vouch for you and your ability to afford the loan.  

Not sure where to start getting pre-approved or when you should even begin the process?  Contact me with your questions.  I work with amazing lenders that are responsive AND reliable.  I am happy to give you their contact information.