If you have any questions or would like more information about getting pre approved please Contact Us. If you are buying or selling a home or property please also visit our Buyers Page or Sellers Page for more helpful information.
Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. Then, they give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income. Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement in signed between Buyer and Seller.
You're out looking at homes. Your Real Estate Broker never mentions that you should get pre-approved and just ballparks what you can afford. Of course, the more house he shows you, the better he usually comes out. You find the perfect house and work out a deal with the Seller. Three weeks later, the lender informs you that the house is $10,000 over what you qualify for and does not approve your loan. The Seller has already bought another house. You've given notice where you're renting and told all your friends about the great house you bought. And then, there's the money you've already spent on inspections on a house you can't own.
You and your REALTOR® have been working diligently finding that "perfect" home. A new listing comes on the market that's priced right and has got everything you've been looking for. You write an offer. Your REALTOR® takes it to the listing REALTOR® and is informed that another offer is coming in and will have to present both offers simultaneously to the Seller. The other Buyer is pre-approved for his loan. Whose offer do you think the Seller will negotiate first?
Should You Get Pre-Approved for a Loan First? Most Definitely! For more information on getting pre-approved let us know.
Thank you for visiting my website! I have taken the time to provide you with as many resources and tools as possible in one spot so to try and help make the home buying experience as easy as possible.
Buyers: Check out my Mapping tool to look around town and see the community you might like to live in. Then use the ‘points of interest’ buttons to search for nearby schools, parks or even the closest coffee shop!
Sellers: List with me and watch what I can do! Custom web addresses directly to your property on both my personal website and my brokerages site will help market your property directly to buyers and increase the speed at which your property is found.
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