Why get preapproved for a mortgage?
3 March 2020
The spring real estate market has arrived! If you’re considering buying or refinancing a home, getting preapproved for your mortgage is an important first step.
Here are the benefits of getting preapproved:
- Shows you how much home financing you can receive and how much home you can buy
- Provides you with a good estimate of what your monthly mortgage payment will be
- Helps catch issues, save time and reduce stress later in the home financing process
- Is required by most real estate agents and home sellers before you make an offer to buy a home
Getting preapproved is free, and it can be done easily online or over the phone. If you’re thinking of buying or refinancing a home and would like to get preapproved, get in touch!Programs included on this document are subject to approval based on individual program guidelines and borrower’s credit and underwriting approval. Contact your Draper and Kramer Mortgage Corp. professional for full program details.