Pre-approval is Good for Everyone

By
Real Estate Agent with Re/Max The Producers 20110530

Buyer’s mortgage pre-approval is good for everyone in the transaction. It saves time, money and removes the uncertainty of knowing whether the buyer will be qualified after negotiating a contract. The direct benefits include:

  • Looking at “Right” homes - price, size, amenities, location
    Pre-approval is good for everyone.png
  • Find the best loan - rate, term, type
  • Uncover credit issues early - time to cure possible problems
  • Negotiating power - price, terms, & timing
  • Close quicker - verifications have been made

There is a significant difference in having a trusted mortgage professional take a loan application and run all the necessary verifications compared to going through calculators on a lender’s website. Beside the peace of mind, the cost of being pre-approved is a bargain and generally, limited to the cost of the credit report.

Even if a person has been pre-approved, a second opinion from a different lender may be a good option. It can verify there is a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you’d like a recommendation of a trusted mortgage officer.

Comments (3)

Leslie Currle
Alcova Mortgage LLC - Luray, VA
With you, every step of the way

Couldn't agree more, Michael.  Thanks for sharing!

Dec 10, 2017 03:53 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Good points Michael. I don't put anyone in my car unless they're preapproved. You risk wasting everyones time if they don't qualify.

Dec 10, 2017 04:41 PM
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

When, in my initial chat with a buyer, my standard question is always "do you need help with financing or are you a cash buyer". Their response helps me figure out what is needed.

Dec 10, 2017 06:53 PM

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