We recommend getting a pre-approval to have the best success with your mortgage. This can be done through us, to ensure that you get the best mortgage product FOR YOU; from the best rate to the best term agreement.

Benefits of Getting a Pre-Approval

While getting pre-approved might sound boring (and you might be asking ‘why can’t I just get approved instead!?’), there are many benefits that make searching for your perfect home that much easier.

• Pre-approval helps to confirm your budget (Quick Tip: Don’t forget about the closing costs! These range from 1 to 4% of the purchase price and should be factored into your budget)
• Pre-approval guarantees your rate for up to 120 days. This protects you from any increases in interest rates while you are shopping (phew!)
• Pre-approval gives confidence to both you and the seller, knowing that financing should not be an issue

What to do After You’re Pre-Approved

You should note that nothing is fully approved until an accepted offer is presented to the lender and signed off on. To ensure that the rates and terms are guaranteed upon final financing, we recommend the following.

• Refrain from having additional credit reports pulled after your pre-approval
• Refrain from applying for new credit, closing accounts or making large purchases until after the sale is complete
• Be prepared to show a paper trail – any unusual deposits in your bank account may require an explanation

Once you have qualified for a pre-approved mortgage, you are ready to start searching for your perfect home. It’s important to stick to your budget! You went through a lot of effort to get everything prepared, so don’t look at anything over your budget (even if that house has a REALLY great pool!). Send us a message if any questions pop up along the way – just click here. We’re here for you!