The answer is obvious. You choose the one who has the ice cream ready to sell. Getting mortgage pre-approval is a lot like that.
While mortgage pre-approval is a critical first step for buyers, there are 5 more great reasons to get mortgage pre-approval before you house shop.
Mortgage Pre-Approval: Know Your Budget
This helps you to focus your home search, preventing you from wasting time looking at houses you can’t afford.
Mortgage Pre-Approval: Identifies Issues Early
Being proactive saves you time once you’ve signed a contract. There won’t be any contractual delays on your part while you and your lender work through the financial issues.
Mortgage Pre-Approval: Strengthens Your Negotiation Position
Pre-approval also lets the seller know that you are a serious buyer. So they take your offer more seriously.
Mortgage Pre-Approval: Speedier Process
The property can proceed straight to final loan approval, skipping the pre-approval step.
Mortgage Pre-Approval: Lock In Current Interest Rate
Getting mortgage pre-approval sets you up for success during your home search and purchase process.
Taking this critical step will put you ahead of the game and help to make the real estate homebuying process smoother!
When you’re ready to close on your new home, turn to the pros at Lilly Title & Settlement. We’re a woman-owned company in Staunton, VA, specializing in title insurance and settlements. We’re obsessed with legal details, so we close on time! Learn more about us here.