“WHEN TO GET PREAPPROVED FOR A MORTGAGE”
If you’re serious about buying a home, you need to be preapproved for a mortgage before you start looking at properties. When making an offer on a home you want to buy, it’s imperative that you include a preapproval letter with the offer. A preapproval will state how much you are able to borrow and the interest rate, in addition to the full amount you can offer on a home. This shows the seller that you have the financial means to follow through on the purchase ad helps you compete against other buyers. Mortgage preapprovals are typically good for 90 days, so plan accordingly around your purchase timeframe goals by not applying before you’re ready to start looking.
Figuring out the mortgage and obtaining financing for a new home turns the dream phase “wouldn’t it be great if…” into the reality of “its actually going to happen!” There’s much to learn, many steps to take, and lots to do to accomplish a successful real estate transaction. If you’d like some help with the process, we welcome your call. A family owned and operated agency for over 55 years.
“OUR SUCCESS HAS BEEN BUILT ONE SATISFIED CUSTOMER AT A TIME.”
