Let’s talk about you, the home you want to buy, and pre-approval. “Pre-approved” may sound like an industry buzzword for homebuying, but the fact of the matter is it’s one of the most important things you can do when buying a house – you’ll save yourself a lot of headaches with just a little upfront effort.
Here are our top 3 reasons you’ll want to get pre-approved before you do anything else.
1. Home in on Your House Budget
Of all the variables to juggle when buying a house, the cost is a big one. And nothing’s worse than finding your dream home, then finding out you can’t afford it weeks into the process. With a mortgage pre-approval, you’re only looking at houses you can afford from the start – no need to worry about juggling qualifications when you find the right home.
2. Show the Sellers You’re Serious
In a competitive market, you’ll need every advantage you can get; being pre-approved is huge. It signals to the home seller you’re not window shopping or entertaining a fantasy – you mean business. If there are two potential buyers, but only one of them is pre-approved, who do you think the seller will prefer?
3. Gets You to “Home Sweet Home” Even Faster
With the excitement and anticipation of closing on your soon-to-be home somehow turning the seconds into hours, waiting for mortgage approval can feel long. If you’ve got your pre-approval in hand, you’ve just breezed right through your first step! This speeds up your closing time exponentially, which is also something most home sellers want – reinforcing reason #2.
