Of all the steps that go into the process of buying a home, the pre-approval is one of the most important.
So, what does pre-approval actually mean?
For pre-approval , you first speak to a lender for a pre-qualification letter based on your finances—which will be indicative of your ability to buy a home.
Our current market holds a wealth of opportunities due to low interest rates, but before even starting your car to go look at homes you should thoroughly understand your buying power.
A good place to start is by talking to your lender about your monthly budget. Obtaining the help of a professional, you will be able to develop a personalized plan before moving forward with your purchase.
But choosing the right lender is as important as any of these other steps. Talk to your real estate agent to find out which lenders they might recommend.
Having an agent and a lender who understands you, your financial needs, and your goals will be critical to your success in today’s competitive marketplace.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.