Is mortgage pre-approval/pre-qualification important?
Simply answered...Yes.
Rates are rising, inventory is continuously low, both buyers and sellers are experiencing challenging times finding new homes to purchase. That being the case, do you want your financing to be an added challenge to an already challenging situation? Getting pre-approved for a mortgage is one card that helps you emerge from the offer pack as the buyer of choice.
When you decide to enter the active real estate market, as a buyer, make sure you speak with your lender of choice. You want to be ready to make an offer when you find the right home. Financing is something that can be prepared ahead of time, so there's no need to miss out on your dream home just because your loan application isn't in order.
Your loan officer will work with you to understand your goals and to ensure you have the documents they will need to pre-approve you.
Be prepared by being pre-approved.
Comments(16)