Are you considering buying a home this year? Richards Realty Group can help! With years of real estate experience, Christine Richards is your go-to expert. Mortgages can be confusing, but pre-approval can help. Mortgage lenders have different timelines for how long it takes to issue a pre-approval, and lenders have their own mortgage approval standards. If you’re unsure whether or not you should seek pre-approval for a mortgage before buying a home, keep reading! Here are our top five reasons you should consider pre-approval.
Learn What You’re Qualified For
A great first step in purchasing a home is learning what you’re qualified to borrow. This is something that seeking pre-approval can help with! While you may have an idea of what your budget is already, getting pre-approved can give you a closer estimate of what you can borrow from your lender.
Learn What You Can Afford
Once you’re aware of how much you are able to borrow from your lender, you can narrow down home prices. Being pre-approved can help you figure out what price range you can afford and potentially create your list of homes that you’d like to see. Without pre-approval, you may not be as knowledgeable about what price you can afford.
Have A Competitive Edge Over Other Buyers
Buyers are all searching for different elements in their dream homes. If there’s a home that you have fallen in love with, pre-approval can give you a competitive edge over other buyers looking at that same property. This will help set you apart from everyone else!
Speed Up The Home Buying Process
Getting pre-approved for a home loan is a great way to speed up the home-buying process. This will ensure that once you find a home that fits your needs and budget, you’re one step closer to purchasing. The home-buying process can be a long one, so get ahead of the game and seek pre-approval!
Show Sellers You’re Ready
Sellers want to work with buyers that are serious. Once you’re pre-approved for a home loan, buyers will know that you have taken the next step toward a purchase. This also helps show your realtor that you are serious and able to purchase a home within the timeframe that you are searching for! Show the sellers that you’re ready and willing to buy the home. Getting pre-approved for a mortgage can assist in every step of the home-buying process!
Once you’re pre-approved for a mortgage, you’re one step closer to buying the home of your dreams! Richards Realty Group can assist you in every step of the home-buying process. Christine Richards has a wealth of knowledge about area neighborhoods, schools, and activities. With her help, you have access to top-level real estate and market knowledge!
Reach out to book your appointment today!
