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Get Pre-Approved?

WHY SHOULD I GET PRE-APPROVED?

THE PRE-APPROVAL IS A VERY IMPORTANT STEP IN THE BUYING PROCESS, AND FOR MANY REASONS.  WE HAVE OUTLINED A FEW OF THE MOST IMPORTANT REASONS FOR YOUR REVIEW.

  1. The sellers of real estate face their own set of challenges. One of them is the sellers having to leave their homes frequently for showings. The selling Realtor does not want to trouble their clients by showing their home to unqualified buyers. If you are not pre-qualified, we may not even get in the door of the home that is best for you.
  2. The sellers of real estate and their agents will not give your offer much, if any thought, if you haven’t been pre-approved and if they do, they will want more for the home than if you are pre-qualified. You have to qualify at some point so why should it cost you money, even thousands.
  3. You have probably heard that interest rates are on the rise. The pre-qualification will guarantee you a certain rate to protect you against rising interest rates and may save you thousands. If rates were to go down, you would still be entitled to the lower rates.
  4. The pre-approval will assist you in determining how much to spend on a home and to know in advance what your monthly payment will be. This also ensures you don’t see a house and fall in love with it only to find out it isn’t quite in your budget. You will only see the houses that you can afford.
  5. You may be entitled to special programs or buying incentives that decrease your down payment or help you purchase a more expensive house than if you didn’t get a pre-approval.
  6. Some mortgage brokers consistently find our clients better rates than offered directly from a lending institution. This will save you money.
  7. The mortgage companies we deal with will make an appointment at your convenience. Our mortgage broker will only need you on the phone for a few minutes to start the process, and later schedule a time convenient for you to follow up. They save you money with no hassle.

CONGRATULATIONS! YOU’RE APPROVED!