MOST DEFINITELY!

Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. Then, they can give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income.

Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement is signed between Buyer and Seller.

Consider this scenario:

You and your Realtor have been working diligently finding that ?perfect? home. A new listing comes on the market that?s priced right and has got everything you?ve been looking for. You write an offer. Your Realtor presents it to the listing realtor and is informed that another offer is coming in and will have to present both offers simultaneously to the Seller. The other Buyer is pre-approved for his loan. Whose offer do you think the Seller will negotiate first?

Should you get pre-approved for a loan first? Most Definitely!

Click here to fill out our prequalification form.