Why is important to be pre-qualified by a bank before you house hunt
Published On: March 14, 2011 Posted by: TownsRealty
Before you start to house-hunting, the first thing you should do is meet with a lender and get pre-qualified. This is the one of the most important steps in a home buying process as it will help you determine the price of a home that you are comfortable with and your ability to pay. Speaking with a lender and getting pre-qualified offers you a number of advantages:
• You will know your approximate future monthly payments and you will have the confidence that you can afford them.
• You will know that you’re looking at homes you can comfortably afford to finance.
• You will be able to find your home in a shorter period of time by not looking at homes that you might not qualify for.
• When you find a property, along with your offer a pre-qualification letter is required. Sellers will see that you are pre-qualified for their home value and will take your offer seriously. If there are multiple offers on the property, a solid pre-qualification letter based on your verified credit, income and assets by your lender will make a difference between having your offer accepted or losing the property to another buyer.
If you are looking to buy a home in Central Florida please give us a call. We can help you find the home that you are looking home whether is your first home, a vacation home or if you are looking to sell and move to another home that suits your family needs.