When talking with a realtor, one of the first things they will mention is getting a pre-approval. We are here to explain WHY a pre-approval is so important and what exactly it is, especially because it’s very much needed in this real estate market with rising home prices and high buyer competition.
Being aggressive when it comes to what you offer on a home and being intentional is HUGE this year, just like it was in the latter part of last year due to demand and low inventory. Getting a pre-approval is the only way to know the true price range that you can afford and how much money you can borrow for your loan. You will get in touch with your mortgage lender and give them any necessary information they will need to draw up what you qualify for as far as the price range and interest rate (which is the pre-approval process). Also, when submitting offers, you need to prove to the sellers that you are a qualified buyer, which means showing them the pre-approval from your mortgage lender! In this competitive market, being a qualified buyer will keep you a step ahead in the game. Any chance you can get to stay competitive in this market, take advantage of it! Interest rates are expected to rise along with home values, so start today and get yourself pre-approved and then come talk to us so we can get started on helping you find the dream home you can afford! Don’t know how to get in touch with a lender or where to even start? That’s okay too! Call us today and we can help throughout the entire process! 832-264-8934 or email@example.com!