THE IMPORTANCE OF MORTGAGE PRE-APPROVAL

In today's real estate market the very first step for a buyer to take is to get their financing in order. The pre-approval process is an essential part of the buying process. Besides giving you, and I as your agent, a clear idea of what price range we should start our search in, it allows you to feel secure in your negotiating power.

With a pre-approval you have more negotiating power with a Seller and gives you, peace of mind that you qualify for the property you want.

The pre-approval also give you a definite advantage in a market that can be extremely competitive.

A pre-approved mortgage is when all steps of the mortgage process have been completed except for the appraisal of the home you will be purchasing. You will be asked to fill out a mortgage application; the lender will do a credit check, verify income and verify assets.

After the above steps are completed, a true commitment letter is generated. You now are a very strong candidate to negotiate on that home of your dream. It also lets Sellers know how serious you are about the offer to purchase the property.

I am very happy to recommend a number of lenders to you depending on your individual situation. Just give me a call.