Pre-approval can be a very valuable step towards purchasing a home. Many home buyers get pre-qualified for a home loan early on, and then become pre-approved before beginning a serious home search. By completing your mortgage application prior to choosing a home, you can get a pre-approval letter stating how much home you can afford.
Your pre-approval letter lets you know exactly how much you can spend, and it shows home sellers and listing agents that you’re serious about buying a home. This may give you leverage in the negotiation process as many sellers prefer to work with pre-approved buyers.
To find a mortgage professional and get started with your pre-approval for a loan, please get in touch.