Think you’re ready to get the ball rolling and start shopping for homes? Think again! First you’ll need to get pre approved from a lender. Here are 3 reasons why you need to get pre approved before buying a home.
What is pre-approval?
So, what is a pre approval letter? Simply put, it’s the process that determines how much money you can borrow to buy a home, which is why we recommend having it done FIRST!
Here’s WHY you need to get pre-approved before buying a home:
01. BUYER CREDIBILITY – Being pre-approved lets the seller know you are serious and financially prepared. This will increase your chances of being accepted since you already made a good impression by being pre-approved!
Pre-approval helps you understand your home-buying budget more clearly.
02. HOME SEARCH - Pre-approval helps you understand your home-buying budget more clearly. This lets you prepare offers for housing you know you have a chance at and saves time overall for everyone involved.
03. CLOSING PROCESS – When you’re pre-approved there are less chances of a delay when it comes to the closing process in terms of obtaining your mortgage. This way you can focus on other important things like home inspections.
Interested in starting the home buying process? Click here to connect with an agent and set up a buyer meeting.
Looking to start your online search? Click here!