Do I Really Need A Mortgage Pre-Approval To Make An Offer On A House?
By Nina Hollander, Broker, Your Greater Charlotte Realtor
(Coldwell Banker Realty)
Do I REALLY NEED A Mortgage Pre-Approval To Make An Offer On A Home?A mortgage pre-approval is the first step in your journey to purchasing a home, giving you a competitive edge when you make an offer on a house. Being intentional and competitive are musts when buying a home. That's why pre-approval is so important today. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Why Does A Mortgage Pre-approval Matter So Much Today? Today, there are many more buyers looking for homes today than there are homes available for sale. That's creating some serious competition. According to the National Association of Realtors (NAR), the average home is getting 4.8 offers per sale. As a result, bidding wars are still common....
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