Mortgage

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 […]
April 26, 2022

Why Is It So Important to Be Pre-Approved for a Mortgage

It can’t be stressed enough – if you’re buying a home, knowing what financing you can qualify for is the first step to getting the house you really want. One of the worst sensations (especially in this market) is to find your dream home, get your offer accepted…only to lose it when the financing falls through.  If you are planning to get a mortgage to finance your new home purchase, getting pre-approved (not just pre-qualified) is an essential step to not only get the result you want, but also to line you up to get your offer accepted.  Here’s our take on why it’s so important to be pre-approved for a mortgage when buying a home: First, You Don’t Need […]