whats-your-shopping-budgetWhen you’re looking to buy a new home, you need to know how much home you can afford. A pre-approval is an assessment of the financing you can qualify for based on your financial standing. Getting pre-approved is an important step as it shows sellers that you’re a serious and credible buyer.

Getting pre-approved is simple. We just need to verify your credit score and if you meet the guidelines, you’ll receive a pre-approval letter. For a more accurate pre-approval letter to determine how much home you can comfortably afford, you can supply your loan officer with your basic financial information. Most pre-approval letters are good for 60 to 90 days.

Benefits of a pre-approval:

  • Provides your loan officer with a more complete picture of your situation to better advise you on your options
  • Saves you time as you’ll only be looking at properties you can afford
  • Adds to your negotiating power by showing prospective sellers you have been pre-approved for mortgage financing

Contact your 1st Advantage loan officer today to get started on your next home loan!

  • By: Draper and Kramer Mortgage Corp.
  • In: Housing
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