financing

October 24, 2023

What is Pre-Approval & Why is it So Important?

Ready to start the process of buying a new home? One of the best steps you can take to strengthen your position as a serious buyer is to go through the process of pre-approval now. Having a pre-approval letter saves you time, and lets sellers know that any offer they receive from you is backed by the ability to obtain the necessary funding.  What Exactly Is Pre-Approval? The short answer is that it is a lender’s preliminary assessment that determines the highest amount of money they would be willing to lend you for a mortgage. A final loan can’t be secured until you’ve chosen a specific property, but going through the parts of the process related only to your finances […]