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WHAT IS LOAN PRE-APPROVAL? A pre-approval is an early assurance from a mortgage lender. It states that you meet the necessary credit requirements for a home mortgage for a specific loan amount, subject to verification. Any agent from our team can get you pre-approved!!! It is a good idea to get a pre-approval even before you've found a house. Since a pre-approval gives you a good idea of the amount of money you are eligible to borrow, it lets you focus your search on homes that are within your price range. Once you find a house, a pre-approval letter strengthens the offer you make to the seller. It demonstrates your financial strength and shows the seller that you have the ability to buy the house. Although a pre-approval letter is not a final loan commitment, it can be shown to listing brokers when bidding on a home. Home sellers prefer to accept offers from pre-approved buyers.
FINANCING YOUR NEW HOME |
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