There are many reasons to obtain a pre-approval
long before you actually locate your new home.
Some of the most important reasons are as follows:
The most important reason to be pre-approved is that in today's real
estate market, sellers are refusing to accept purchase agreements from
buyers who do not have the evidence that they can perform on the agreement.
No seller wants to take his/her home off the market and risk the sale
falling apart later due to unqualified buyers.
Pre-approval will put you in the strongest negotiating position possible.
The seller will have the evidence he needs to have complete confidence
in your ability to qualify for the home financing. This process can
lead to you saving thousands of dollars.
During the pre-approval process you will learn how much of a mortgage
you qualify for.
You will learn about the multiple mortgage programs available and
applicable to your situation.
Many credit reports have major errors on them. During the pre-approval
appointment we will go over your credit report in detail and if there
are errors we will assist you in erasing those errors so that nothing
will stand in the way of obtaining your dream home.
The pre-approval appointment will reveal to you exactly how much up
front investment dollars you will need, if any.
The pre-approval appointment is a necessary part of the home ownership
process. You will find this appointment very informative and you will
obtain the crucial mortgage program information needed to make educated
decisions in the home ownership process.
