Why Pre Approval is Critical to Your Home Buying Journey

As todays housing market shifts and interest rates have increased, getting pre approved by your lender is more important than ever and here's why.

It Clearly Outlines Your Budget:

There are many factors that go into your monthly mortgage payment. It can vary based on your interest rate, debt to income ratio, insurance, and taxes. So its important to go over your finances with your lender before you start home shopping.

It Signals That You Are a Serious Buyer:

When submitting an offer on a home accompanied by a pre approval letter from your lender this shows the seller you've taken the preliminary steps towards purchasing a home and are qualified for a loan within the price range of the home you're offering on.

It Limits Surprises Down the Road:

If you've been pre approved and have met with your lender regarding all the factors of the loan process its less likely you'll run into unexpected costs or fees once you're under contract. Which will lead to a smoother closing process.