Benifits of pre-approvals

Applying for a pre-approval from a lender is a quick and easy way for home buyers to increase appeal with sellers. A pre-approval is an agreement from a bank or mortgage company to provide a loan up to a certain amount for the purchase of a home.

While the lender commits to providing a loan, the buyer is under no obligation to use that company. If presented with a more attractive loan offer, the buyer can elect to use another lender without paying any penalty or fee.

Sellers prefer to work with buyers who are pre-approved because they know they are serious about purchasing a home and will not waste their time. An added benefit of being pre-approved is that it provides buyers with the peace of mind of knowing they are looking for a home they can afford and they are not spending beyond their means.

If you would like to learn more about the value of being pre-approved, I would be glad to provide you with additional information.