Get a Mortgage Pre-Approval

Knowing how much you can afford is an important part of a successful home search. It’s not a good idea to fall in love and then find out that the property is beyond your budget.

This is why I recommend a Mortgage Pre-Approval. This document is from your bank or another lender that will tell you how much mortgage they are willing and able to provide. This pre-approval has two benefits:

• It gives you the peace-of-mind of knowing that you can afford homes you see on the market, and that you won’t have problems financing them.
• It’s a sign to sellers that you are a serious, prepared buyer – which gives you the edge when making an offer.

You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a good mortgage broker. I’m well-connected in the local real estate market, so if you want me to recommend a reputable broker or lender, please contact me.

How Much Home Can You Afford?

Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward. You can usually get a Mortgage Pre-Approval in a day. You’ll be glad that you did.

Knowing what your budget allows you to confidently shop for homes within this price range. If you are able to afford a $250,000 mortgage and have $100,000 left over for down payments, you could look for homes in the $350,000 price range.

Have questions about arranging financing? Send me a message using the form below or simply call or email me.