When a homebuyer is prepared and all the pieces fall into place, the home-buying process can often move quickly. One way to help keep it speeding along is being pre-approved for a mortgage loan. Pre-approval provides homebuyers insight into how much they
may be able to afford for a down payment and allows real estate agents to narrow the search.It Allows Homebuyers to Know Their Limits
Being aware and respectful of a budget saves time and prevents prospective homebuyers from daydreaming about out-of-budget homes. The less ambiguous homebuyers are about what they may be able to afford, the more efficient the home search will be.
It Shows Sellers the Homebuyer is Serious
The real estate market can be a competitive space, but getting pre-qualified could give a prospective homebuyer an advantage over fellow potential buyers.
It Helps Homebuyers Know How Much to Save
Prepare for success by planning and goal setting. By being organized and reasonable, homebuyers may avoid unnecessary roadblocks on the path to homeownership. In running through the numbers with your mortgage professional, you'll know exactly where
you stand financially in preparation for this big decision. Understanding how much money you'll need to bring to closing, including down payment and closing costs, will help you better manage your spending and helps plot a course to help you achieve
your goal of homeownership.
Please consider The Myers Team your resource for all things real estate. We have over 32 years of real estate experience, specializing in (but not limited to) the Montgomery County area. If you are refinancing, want a recommendation, need a service provider or just have a home related question, please give me a call at 301-910-9910 or email me at firstname.lastname@example.org.