Why Are You Waiting to Get Pre-Approved?

If you aren’t pre-approved yet, I’m curious as to why that is. There are many people out there, in fact, who are nervous about this process.

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Over the course of my career, I’ve met a lot of buyers who’ve wanted to wait before getting pre-approved.

Some people want to wait because they are afraid to commit to a Realtor or lender, while others hesitate because they’re nervous about having their credit pulled. There are also those who simply feel intimidated by the fact that a pre-approval makes the prospect of a transaction seem a little more “real.”

Having nerves before purchasing a home is common and absolutely normal. I, myself, have become desensitized to the process through years of experience. I’ve helped so many people buy homes that my perspective on the ordeal is a lot different from that of a buyer.

However, that’s exactly the benefit of working with a professional. Professional agents have the knowledge and experience to navigate a transaction based on what will get results. Getting pre-approved can give buyers a lot of peace of mind.

Knowing what loan you’ll be using, how much you can afford, and what your monthly payments will be like is all very valuable information—all of which you will learn through getting pre-approved.

So, why are you waiting? Knowing why you don’t feel ready to get pre-approved would help me to better understand and service buyers just like you. The market right now is very competitive. No seller is going to consider a buyer who lacks a pre-approval letter.

Most listing agents will also contact the lender even after receiving a pre-approval letter to confirm that they are qualified to purchase a home.

If you aren’t pre-approved yet and are nervous about the process, I want to hear from you.

So, if you aren’t pre-approved yet and are nervous about the process, I want to hear from you. I would love for you to contact me with your thoughts.

Also, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Biggest Time Waster Buyers Fall Victim to in Our Market

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Selling a home? Click here for a FREE Home Price Evaluation

We come across many buyers on a daily basis and, often, we notice that some of them are quite misinformed. The source of this misinformation is a range of online mortgage calculators that ask buyers to put in a bunch of their information - such as the home price and anticipated interest rate - and buyers walking away with the impression that they can afford more than they can. These buyers will come to us and tell us they don’t need to be approved because they’ve already ran the numbers.

“

The mortgage application process is 
much more in-depth than any online calculator.

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What many buyers don’t understand is that the mortgage application process is much more in-depth than any online calculator. It’s not just about determining what monthly payment is in your budget. There are many different factors involved; a typical lender is going to look at how long you’ve been at your current job, your credit score, and the type of loan you’re going to get, among many other factors! Most people don’t know what’s on their credit report, which is a major factor in obtaining a mortgage.

Bottom line, the first thing you need to do if you’re planning on buying is sit down with a lender and find out your entire financial picture. Any other first step is a waste of time and could lead to some major headaches down the road. When you get pre-approved, you’ll get an in-depth look at your financial situation and will know exactly what to expect from the buying process. Really, it’s a no-brainer!

If you have questions about this crucial topic, or if you would like more real estate advice, please don’t hesitate to reach out to me and my team. We’re always looking to help!