If you’re looking to buy a home, getting pre-approved is part of the process. A pre-approval is not only required in order to make an offer, but it is important for several other factors, as well. (If you are a cash buyer, this does not apply – you would instead need proof of funds, which would provide many of the same benefits below)
Pre-approvals are important for:
- Helps your agent tailor your home search to fit not only your desired criteria, but your financial criteria
- Shows listing agent that you are a serious buyer
- Helps you to put an offer in ASAP when you already have it complete before looking at homes
- Establishes a relationship between you and the lender
- Gives your realtor and lender the opportunity to explain connect and work together
- Allows your realtor to write the strongest offer that is suitable for you
There are many benefits to having a pre-approval (or proof of funds for a cash offer). If you have any questions or would like me to guide you to a trustworthy lender, please reach out!