Do you know why a Mortgage Pre-Approval is helpful?
A pre-approval is an estimate of how much you can borrow for a home and there are a variety of benefits to applying for one, including the following:
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With a pre-approval you may be able to lock in that interest rate for 60-130 days
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Know how much you can afford before making an offer on a home
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Help plan your mortgage finances ahead of time
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Shows realtors and sellers that you are a serious buyer, increasing your negotiating power when making an offer
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Free to apply and zero obligation to use the mortgage pre-approval
Although a pre-approval is not a guarantee you will be able to borrow the entire mortgage amount, it is a great estimate of what you can afford and can help guide you through the process of purchasing a home. A mortgage Pre-Approval is different than a Pre-Qualification, it is a longer process but is more accurate and comes with more benefits than simply pre-qualifying.
As a mortgage broker I can provide you with a pre-approval and help you prepare all the necessary documents and information you will need.
