The first step in the Home Buying process is to get pre-approved for a mortgage. This will help you not only will you know what type of home you can afford, but you’ll be in a better position in which to negotiate with a seller. In addition, sellers most often will not even want to look at your offer unless you’ve been pre-approved, because they need to know that your financing is already secure.

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When you meet with a mortgage professional, you’ll provide some general financial information to determine a home’s price that best suits your ability to pay, as well as your comfort level. By doing this, you’ll be able to:

  • Take your time looking at the homes that you can afford to buy.
  • Know what your house payment will be prior to your purchase.
  • Choose the best loan without the pressure. Your lender will give recommendations as to which loan options will work best for you.
  • You’ll also be able to find out what your estimated closing costs will be.
  • Finally, once you’re ready to put an offer on a house, the pre-approval letter is already available and ready for us to submit our offer and get that accepted offer on the perfect home that you’ve worked so hard to find!

Please keep in mind, that timing is of the essence when purchasing a home in a seller’s market with lots of competition that wants to buy the same home. As such, getting this initial step completed before the house shopping begins will put you in a better situation when you’ve found the home that you want to buy with no time to waste. 

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We can help you find mortgage professionals that will work with you every step of the way! If you are interested in seeking a pre-approval letter, please reach out to us at Movementum Realty and we will direct you to local mortgage professional.