Mortgage Tip: Pre-Approval

Before you start to look at homes for sale save yourself and your real estate agent some time and speak with a loan officer to ensure you know exactly how much of a house you can afford. By spending a short amount of time working with a loan officer to review your credit scores and income you will be able to know exactly what you are comfortable with spending on your mortgage payment.

Once you are pre-approved we will send your real estate agent an approval letter to state that you are working with a Loan Officer/Lender/Broker and your income and credit have been reviewed and the amount that you have been approved financing. Having your “ducks in a row” before starting to shop for homes can save you a lot of time and headache in the home buying process. You would not go shopping without knowing how much money you have available to spend and knowing what you are comfortable with spending so why do that with most likely the largest purchase of your lifetime?