Do I need a Mortgage Pre-Approval?
Know exactly how much home you can afford before you begin house hunting. Pre-approved mortgage financing saves you time and gives you real negotiating power when it comes time to writing an offer.
Getting pre-approved means completing a mortgage application before you go house hunting. With a pre-approval on a mortgage:
- You can confidently shop for a home
- You know how much you can spend
- You know the interest rate
- You know how much your monthly payments will be
- You could be protected against interest rate fluctuations since your interest rate may be guaranteed for up to 120 days - if rates go down within these 120 days, your rate will automatically be lowered
- You become a more attractive buyer and real estate client - the Realtor and seller know you're serious and it may put you in a better position against other homebuyers who are not pre- approved.
If you are looking for a pre-approved mortgage, it's important that you are making an educated decision with someone looking out for your best interest. Call Patricia today for a free consultation and rate lock!.