FIRST TIME HOME BUYERS SERIES | WEEK FOUR | PRE-APPROVAL

One of the primary benefits of a mortgage pre-approval is gaining a clear understanding of your budget and realistic price range to focus on during your home search and most realtors won’t work with you until you have one in place.

The pre-approval process involves a thorough examination of your financial situation. And This is a great time to address issues with your credit (if any) before it becomes an obstacle. A pre-approval can protect you against potential rate increases with a 120-day rate hold. And once you’ve got your pre-approval, it’s important not to make any big changes including switching jobs or financing large purchases.

In the competitive world of real estate, a mortgage pre-approval is your secret weapon. Because you’ve done your homework you may be able to offer a shortened financing condition which may look very favorable to sellers and give you a leg up on your competition. Keep in mind a pre-approval does not guarantee mortgage approval

Getting started is easy and I’ve got a comprehensive list of documents you’ll need to provide your mortgage professional on my website under the First Time Home Buyer tab.

If you’d like to get started please feel free to call/text or email me. I'll be back next week where we’ll talk mortgages 101.