Why You Need a Pre-Approved Mortgage before House Hunting ?

By: D. Pal Singh

Why You Need a Pre-Approved Mortgage before House Hunting ?

Tags: Pre-Approved Mortgage

 

A pre-approved mortgage is an assessment of face value of the ability of the potential buyer to get approved for a mortgage. It is common for real estate agents, sellers, and home builder to request for a pre-approved mortgage from potential buyers.

Benefits of Having a Pre-Approved Mortgage

If you have a pre-approved mortgage as you start house hunting, you will enjoy these advantages:

Mortgage pre-approval is using the income approach to determine the purchasing power of a potential home buyer. It doesn't take into account: credit status, employment status, debts of the applicant, etc. All these are factors that influence the decision on actual mortgage approval.

Consult with your mortgage specialist on the financing options that are available to you. Together, we will help you get your kind of perfect home at your price range.