Pre-approval is an indication from your lender that they are wiling to lend you a certain amount of money to buy your future home.
Is this still important in today’s shifting market? It certainly is, and here’s why:
Getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways.
Financial and Real Estate experts agree that pre-approval from a lender:
- Helps you understand your true price range and how much money you can borrow for your loan;
- Makes it easier when you set out to search for homes;
- Helps tremendously once it’s time to submit an offer on the home of your dreams;
- Lets the seller know that you’re qualified to buy their house, as most sellers won’t even consider an offer unless the buyer is pre-approved at the right price point.
Every advantage you can gain as a buyer is crucial in a market that’s constantly changing. Expert guidance to navigate these waters requires a team of professionals - such as an experienced real estate pro and trusted lender - on your side. They’ll help make sure you’re ready to put your best foot forward.