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Power of Being a Pre-Approved Buyer
Power of Being a Pre-Approved BuyerThere is no doubt in most real estate markets that those Pre-Approval Letters carry more power than those Pre-Qualification Letters. The facts remain that those who seek pre-approval are more likely to close their transactions than those who are only pre-qualified. Naturally, the lenders will state that certain lender requirements will have to be met to get final underwriting approval, but a Pre-Approved Loan still carries more weight.In most cases, real estate agents want to be assured that their buyers are able to complete their transactions from contract to closing.  Normally, financing takes about 30 to 45 days depending on the type of loan, and any other lender requirements.  This month’s video presentation from KW International just about sums it all up for buyers, who are getting pre-approved before they start their home search. With interest rates at an all time low of 3.53%, Now is a Great Time to Buy that new home, condo, or townhome.
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