Prequalify For A Mortgage Before You Shop
Doing your homework before shopping for an important and high end purchase will save you time
, money, and heartache in the long run. Is there any bigger purchase than that of a home for you and your family? Be sure to get pre-qualified before you shop for your new home and apply for a mortgage loan.Pre-qualified mortgage loans provide the searching buyer multiple benefits. First, you find out how much of a loan you qualify for and as a result how much of a home you can afford. You not only determine a price range for your search but also peace of mind in knowing that you can afford a certain level of real estate. It makes your search for a home that much easier.
Second, by choosing this vital option you demonstrate that you are a serious buyer. Real estate agents, home sellers, and everyone else in the real estate profession will serve you better knowing that you are on the ball and ready to buy.
A third benefit to becoming pre-qualified for a mortgage loan is that by going through the pre-qualifying process you will establish rapport with a mortgage lender. That rapport will pay off during the application and final approval process. There is a lot of paperwork to take out a mortgage loan. The better you know your lender and the better your loan originator and loan processor know you, the easier the process will be.
Best of all, getting pre-qualified for a mortgage loan is simple and fast. In choosing the right lender, ask about the process. Better yet, choose a lender that offers pre-qualification. You wont be sorry.
Enjoy your new home and the peace of mind that comes from showing your buying power potential at the front end of the buying process.
by: RW Tanner