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Pre-approved? Why does it matter.

So, you’ve decided to start looking for a home to buy. But where do you begin? You see all of these gorgeous homes popping up for sale. Some may be turn-key and everything you are looking for, while others may require a little bit of TLC. As a first-time home buyer, it may be a little overwhelming and confusing at first. Knowing where to begin is the first step, and I’m here to help.

You may think that you need to find the perfect home first, before talking to a mortgage lender. When in fact, talking to a lender and getting pre-approved should come first. It’s quick, easy, and provides proof of your ability to obtain financing. Not only that, but it shows sellers that you are serious about buying. In many cases, the seller requests that any potential buyer already has their pre-approval letter before walking through their home. A seller is more likely to pick a buyer that already has their pre-approval letter, over a buyer that is still in the dark on financing.

Getting pre-approved through a lender will also give you some sort of insight on what you can actually afford. Sure, you may want 6 bedrooms, an indoor pool, and a tennis court, but are you eligible? With a pre-approval letter, you can sort out the home that are out of your budget and narrow it down to something you really love. You may need to lower your price range, or you may have more buying power than you thought. Talking to a lender will take away all of the guess work and show you exactly what you should be looking for.

If you need help finding a lender that meets your needs, give me a call today and I’d be more than happy to point you in the right direction.

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