Get Pre-Approved for a Loan


If you plan to finance your purchase, an important first step in the process of buying a home is getting preapproved for a loan. I recommend that you do this small bit of financial homework at the very beginning of the property search- and I'm going to tell you WHY.

Getting pre-approved for a loan will give you, in writing, precisely the loan amount you can get.  This will allow you to calibrate your home price range and search or tour active real estate listings efficiently.

When it comes time to make an offer, being pre-approved gives you a much stronger bargaining position.  A seller will prefer an offer which includes a pre-approval because they can be confident in your ability to obtain financing.  If you are inclined to bargain for the best price, your offer may also be viewed with more credibility. Getting pre-approved also means that your loan application might be accelerated which could be very attractive to a seller with a deadline.  You could be in your perfect home faster and with less stress.  This is especially crucial if you are looking to time the sale of your existing home with the purchase of another.

If you do not already have a lender, you may wish to speak with one of my Preferred Lenders. Please visit my website to review recommendations for Lenders and their contact information: