Frequently Asked Question of the Week: Why is it important for me to get pre-approved for a loan?
13 Aug 2020
First and foremost, there is more than just the house payment that goes into your mortgage, and sometimes people underestimate what they truly can afford. You need to speak with a lender and getting pre-approved will let you know exactly what you can afford, so you don’t look at houses that are outside of your budget. You need a pre-approved letter in order to submit an offer in on that house that you just love, so it’s smart to have that pre-approval in hand when going to look at houses. When you do go in to get pre-approved, it can also alert you to any problems with your credit, and your lender can give you the tools to fix them. Overall, getting pre-approved help you know what you can afford, if there are issues with your credit, and it will get you into your future home faster when submitting your offer.