Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. Then, they give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income.
Your time is valuable. So before you start you search for your new home, our REALTORS® can suggest that you meet with a Professional Mortgage adviser to ensure that the right mortgage will be available for you when you’ve found the right home.
Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement is signed between you the Buyer and the Seller.
This means that you will know when you find the right property, that you will be able to get the right mortgage or financing to complete the transaction.
Should You Get Pre-Approved for a Loan First? Most Definitely!
For more information on getting pre-approved let us know.