Why You Need To Get Pre-Approved

Today, we will discuss the importance of the pre-approval process. You should get pre-approved before you begin your home search.

By speaking to a lender before you begin your search, you will find out what price range you should look in. This ensures that you know what you can afford. If you don't know what you can afford before you start looking, you might fall in love with a $200,000 house when you can only afford a $150,000 house. Every home you see after that will fall short of the $200,000 house you fell in love with but can't afford.

It's very easy to obtain a pre-approval. First, give us a call! The benefit of working with a local lender is that we know the area, and we are much more active as far as keeping us updated on your progress throughout the transaction.

Local lenders also have the advantage of knowing the market and what loan types are commonly accepted by sellers. We will tell you what loan you should apply for, how much you can afford, and what you need for the down payment. Most lenders can get you a pre-approval through a simple online process.
Getting pre-approved before you start looking for a home gives you a huge advantage. You are able to move quickly when you find the home you want. We are still seeing a lot of multiple offer situations, and most sellers are asking that buyers attach pre-approvals with their offers. If you aren't pre-approved already, you could miss out on that house you really wanted.