Get Pre-Approved For A Home Loan
There are good reasons to get pre-approved for a home loan if you are serious about buying a home. When you get pre-approved it means that you have met with your lender to evaluate your financial situation and he has determined the amount you can finance.
The most obvious reason is that you’ll know the price range of homes you can afford. This not only helps you, but also helps the Realtor find the best home for you.
When you find a home you’d love to buy, you will have an advantage over other offers that haven’t’ done their financial homework yet. This could easily give your offer the advantage you need to compete with other buyers. Sellers usually ask their agents about the viability of the offer. When your offer that is backed by your lender it’s almost as good as a cash offer.
When you get pre-approved for a home loan it is not the same as getting “pre-qualified”. Pre-qualified just means you’ve calculated your income and expenses and have a rough idea of size of loan that is feasible.
If you want help finding a lender we would be glad to assist you. Tell us a little about your real estate needs and a Realtor from Gulf Region Realty will get back to you promptly. Thank you!
Comments or questions are welcome.