Benefits to Getting Pre-Approved for a Mortgage

Pre-approval, as opposed to "pre-qualification", signifies that the loan application has been taken through a rigorous procedure.

Here's why pre-approved buyers are ahead in the home buying game:

• If you make an offer on a home and then apply for a loan, you are at the lender's mercy. 
• Pre-approval saves time spent looking at houses you can't afford. 
• A pre-approval letter from a lender gives you an edge when multiple offers have been made on a house. 
• Pre-approved buyers can generally close on their new home quicker, since most of the work has already been done. 

For more information on why it is to your advantage to get pre-approved for a mortgage, call me today at 616-293-9952.