Getting pre-qualified and/or pre-approved for a loan is becoming standard practice in todays market. I encourage my clients to discuss their financial opportunities with a lender prior to actively searching for property. I have a network of local lenders who are very familiar with our market and will be happy to assist You in determining the highest sales price and mortgage You can afford, the best type of loan for Your needs, and conditions for loan approval.
Knowing what You can afford from the start will not only help us find the best property for You but will also make the whole transaction smooth and "surprise-free":
any problems and/or errors that might make obtaining a loan difficult can be detected early on and corrected prior to making an offer to buy a property
pre-approval will help us concentrate on properties best matching Your financial situation and needs
knowing how much You can afford to pay for a property will help us negotiate the terms of an offer and counteroffers, if any
it is common practice to submit a pre-approval letter from a lender with an offer on a property You have set Your heart on, as it will show the Seller that You are a serious motivated Buyer and will make Your offer stand out from the rest and appear very attractive to the Seller
pre-approval facilitates the settlement of the transaction
