Shopping for a home before getting pre-approved for a mortgage is equal to walking into the grocery store without your wallet. Home buyers don’t get a loan pre-approval before their house hunt begins. Buyers are often eager to start looking at homes and tend to leave the boring part of the home buying process for last.
But, in this competitive home market, any serious buyer should pursue a pre-approval letter from a lender showing the amount you can purchase before you start your home search.
If you want to win in this market place where inventories are tight, a pre-approval letter is a must. Many agents will not accept offers on their home listings without it. You as a buyer will have the best advantage if you have that pre-approval letter for the amount that you can purchase first!
You could be the winner of the contract of that special home that you want — and of course everyone wants to be a WINNER!