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Advantages Of Mortgage Pre-approvals Before Viewing Homes in VA
When thinking about buying real estate, it is natural to be very excited and want to see properties as soon as possible. In that excitement, you may delay the important step of obtaining a home LOAN pre-approval. A pre-approval is a introductory review of your finances and credit history to identify your eligibility for a mortgage. It is not a promise of a mortgage, but a guess in lieu of a full mortgage application. Receiving a pre-approval is a good idea for several reasons. This article details advantages of mortgage pre-approvals before viewing Virginia real estate.
Understand Your Price Range Loan requirements and mortgage rates can vary. A pre-approval provides a handle on the programs and alternatives available, what your closing expenses may be, and more importantly, what you can purchase. Without this information, you might waste valuable energy visiting homes that are not feasible. Identifying what you can afford also minimizes the heartbreak of wanting a home that you can not purchase.
Improving Your Leverage Homes with highly sought after amenities or great prices tend to sell fast. A pre-approval gives you the option to make an offer on a hot listing. When you submit an offer, you almost ... more
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