Would you sign a contract to sell your home to someone who possibly couldn’t afford it?

Neither would the seller you want to buy from.

That is just one reason among several others below to begin the home buying process by being preapproved with a reputable lender.

Home Hunting with More Confidence and Focus

Being pre-approved will allow you to know not only how much you are capable of borrowing, but more importantly, the monthly payment associated with the loan.  Is the payment more than you want to take on?  Then let’s take it down a notch to a level you are comfortable with.  The home buying process will be much more enjoyable if you are going out with the confidence that you can achieve your dreams without breaking the bank.

A More Realistic Approach to Home Buying

A pre-approval will target your search to homes that comfortably fit your financial situation.  That million dollar mansion you viewed may have created a memorable afternoon out, but why raise your expectations by looking at homes you ultimately can’t afford?

Enhanced Negotiating Power

Multiple offers are still common in the local Washington market.  Knowing how much you can borrow gives you much better negotiating power, not only because you know your limits, but because the seller can have confidence that if he accepts your offer, your loan is very likely to go through without a hitch. This gives you a distinct advantage over a buyer who is not pre-approved.

Have more questions or need more information about getting a pre-approval? Please contact the WalkerTeam, we’d be glad to help you!