A pre-approval will bring you many different benefits as a homebuyer. Here are a few of the most important ones.
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Here are three different reasons why it’s smart to get pre-approved before making an offer on a home for sale:
1. You’ll know how much you can afford. When you know what you can afford, you will avoid looking at homes that are outside of your price range or budget. At the end of the day, you’ll be safe in the knowledge that if you see a home in your budget that you like, you can make a strong offer on it.
An underwritten loan is the next step up from a pre-approval.
2. It shows you’re a serious buyer. If you’re competing against other buyers and have a pre-approval letter ready to go, it shows the seller that you’re serious and you’re ready to buy the home.
3. An underwritten loan makes you an even stronger buyer. This is the next step up from a pre-approval. You lender has gone through everything and looks as good as a cash offer in many sellers’ eyes.
If you have any questions about pre-approvals or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.