If beginning the home buying process is one of your goals this year, before your search with an agent, you need to get pre-approved for a loan. Getting pre-approval has a number of benefits including, streamlining your search, better informing your agent, creating a stronger offer, and reducing stress.

First, sit down with a financial advisor to review your finances and establish a reasonable budget. The market is full of homes that could be perfect for you, but out of your budget. Narrowing the field with a reasonable budget allows you to search efficiently, and find hidden gems that could have been overlooked with a generalized search.

Working with an agent is the next step in the home buying process, and is made much easier when you are pre-approved. With a price range in mind, a trained Realtor can search for homes that meet and exceed your expectations, allowing you to fully explore a variety of homes and determine exactly what you need and where you want to live.

After your agents finds you the perfect home, you need to submit a winning offer. What constitutes a strong offer can vary based on a number of market factors, but proof of intent to purchase is constant. Your pre-approval will go a long way to demonstrate
that you are serious about closing on the home, thus increasing the odds that sellers will accept the offer.

Finally, knowing what you can and can’t spend creates a less stressful searching process. Nobody wants to fall in love with a home before knowing whether or not they can afford it. Your pre-approval safeguards you from the stress.

If you are looking to get pre-approved, email us, and we can put you in contact with one of our trusted lenders.