Why a Pre-Approval?

Thinking about buying a home? Get pre-approved first!

With more homes on the market and mortgage rates dropping, you might be feeling like it's finally time to buy. But before you start house hunting, get pre-approved for a mortgage.

What's pre-approval?

It's when a lender checks out your finances - things like your income, credit score, and savings - to see how much they're willing to loan you. You'll get a pre-approval letter that shows what you can afford.

Why is pre-approval so important?

1. Know Your Numbers

Even though it's getting a little easier to afford a home, it's still tough out there. Talk to a lender about your loan options and how those changing mortgage rates will affect your monthly payment. Pre-approval helps you figure out the max you can borrow and what your monthly payment will look like.

Use this info to focus your home search on places that fit your budget. With rates a bit lower, you might be able to afford a bit more than you thought, but don't overstretch yourself.

2. Make Your Offer Stand Out

When you find that perfect home, pre-approval gives your offer a boost. It shows sellers you're serious and have already been checked out financially. That makes them more likely to accept your offer.

More buyers are coming back

As rates drop, more buyers will be ready to jump back into the market. Competition could heat up, especially in popular areas. So, give yourself an advantage by getting pre-approved.

Bottom Line

If you're planning to buy, get pre-approved early on. It helps you understand what you can afford and makes you a more attractive buyer to sellers.

Let's connect! Book a call or meeting with me at 571-259-3009 or visiting my Calendly link in BIO.