Every once in a while I come across a new client who does not think "pre-approval" for their home loan is important.
"I just want to see a few houses before I go through pre-approval"
"I may not be able to get approved, but I just want to see a few houses"
The purpose of a pre-approval letter is for a mortgage professional to get an idea of your financial situation and based on what you tell them, they can provide a pre-approval letter. Most pre-approval letters should include the approved amount, financing type (conventional, FHA or VA) and lender contact information for follow up. This pre-approval letter sets the foundation of the home buying process since you must know what you can afford before seeing what inventory fits your criteria.
In our current market, it is standard for the seller to request a pre-approval letter accompany any offer. Why? They want to know you have spoken to a mortgage professional to get a good idea that you will be able to be approved once you submit your application.
I know we have some great Hampton, Virginia homes for sale and I would hate for you to miss out! It can be very disappointing to fall in love with a house and lose out because you have overlooked this very important step!