When you are preparing to buy a house, it is an excellent idea to talk with a mortgage planner before you start looking for your new home. We can help you discern how much you can afford and issue you a pre-approval letter. A mortgage pre-approval letter is a written statement from us stating that you should qualify for a particular mortgage program up to a certain loan amount, but it does not guarantee your loan.
There are many reasons why your home hunt can benefit from being pre-approved for your mortgage loan before you start your search:
- A pre-approval letter helps you understand how much home you can afford. We will talk through your financial goals and discuss the best options available.
- A pre-approval letter proves to real estate agents and sellers that you are a credible buyer. Some sellers may even require a pre-approval letter to be submitted with a home offer.
- A pre-approval letter can help you stand out in a competitive market. If you submit an offer on a home against someone who is not pre-approved, your offer will likely be taken more seriously.
- Since your verification documentation will already be in place, a mortgage pre-approval should help speed up the process once you make an offer on a home.
I would be happy to meet with you soon to plan the next steps toward your new home purchase. In most cases, pre-approval letters are good for 60-90 days, so let's start you on your way. Call me today to set up an appointment!