Mortgage pre-approval: what you need to know

Pre-approval is key to home ownership.
The pre-approval process helps you know what you can comfortably afford. This takes the stress out of making an offer and waiting for the lender to process your application. Putting in an offer without a pre-approval runs the risk of being denied your mortgage, setting everything back and even jeopardizing the sale.
Pre-approvals benefit lenders and sellers, too. Lenders know that you’re serious about buying, and sellers don’t have to conditionally accept your offer while waiting to see if you’re lender will approve the mortgage. If you’re already approved, that means they wait less and can sell their home faster.
Plus, in hot real estate markets, it can give you a competitive advantage if another potential buyer makes an offer without a pre-approval.
Pre-approval is quick and painless. If you have all the income verification and supporting paperwork ready to go, you could be pre-approved in as soon as 24 hours. It’s the right step in your home purchase process.
Let’s get you pre-approved. Contact us today to get your pre-approval or to get more information on the pre-approval process.