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Obtain Financial Approval | Here’s How: Home Buying

The second step in the home buying process is obtaining financial approval for a loan. It is essential to know how much you can borrow before looking for a home!

We will recommend a qualified lender to walk you through the process. Ask lots of questions and make sure the lender  has answers that satisfy you. Make sure that you are comfortable with the lender and they make you feel at ease.

Lastly we will proved a Pre-Approval letter that is necessary when making a written offer. Pre-qualifications are only a guess based on what you tell the lender and are no guarantee, whereas a pre-approval will give you a better idea of how big a loan you qualify for. The lender will actually pull your credit and get more information about you.

That being said, getting an actual approval before looking at homes is probably the most advantageous because your offer will look more appealing than other buyers if your financing is guaranteed. This process all in all should take a day or two!

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Our agents write often to give you the latest insights on owning a home or property in the local area.