IF YOU'RE SERIOUS ABOUT BUYING—IT'S TIME TO GET PRE-APPROVED

Dated: October 29 2020

Views: 81

Many online buyers will call a lender when looking for information about financing. In the process, they become "pre-qualified". That gives them a good idea of what they can afford, or more accurately, what loan amount they qualify for.

You should take it one step further. If you aren't already, get yourself pre-approved now. You'll be in a stronger position to buy when you find the right home.

You become pre-approved when you actually apply for a loan. The lender checks credit, verifies employment, and often verifies that you have sufficient funds to close. Then once you find your dream home, just about the only thing left is the appraisal. Sellers prefer pre-approved buyers because it can cut significant time out of the closing process.

Pre-approval can really help you to determine your price range, which helps you narrow your choices of homes to buy. You will already know how much you can afford before you even start looking.

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Michael Miguel

Michael is a marketing leader with demonstrated success of planning and executing experiential campaigns, corporate events, and guerrilla marketing strategies. He is adept at building and mobilizing c....

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