Why Getting a Mortgage Pre-Approval Matters!
The first step in any home search is finding out exactly how much home you can afford and securing the financing to make the purchase.
While you can get a rough estimate through pre-qualification, taking the extra step to obtain a pre-approval will give you some added advantages.
Pre-approval helps you:
1. Understand your financial condition
2. Know exactly how much home you can afford before you begin your home search
3. Strengthen your purchasing power when making an offer
4. Most sellers will only consider your offer when a Pre-Approval letter is presented with the offer.
When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you are serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.