๐กโ Buying a Home - Step One: Mortgage Pre-Approvalโ ๐ก
Whether you're looking to buy your first home, or haven't purchased a home in the past several years, searching your local real estate listings is not always the best place to begin. Before you start looking through local listings, get pre-approved for your mortgage first.
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Advantages of getting Pre-Approved:
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โ๐๐ง๐จ๐ฐ ๐๐จ๐ฎ๐ซ ๐๐ฎ๐๐ ๐๐ญ: Knowing exactly how much you can afford gives you a clear budget to work with, preventing you from wasting time on looking at a home that is out of your financial reach.
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โ๐๐ก๐จ๐ฉ ๐ฐ๐ข๐ญ๐ก ๐๐จ๐ง๐๐ข๐๐๐ง๐๐: Having a pre-approval allows you to shop for your new home with confidence. You'll have a solid understanding of what you can afford, and can narrow down your search to properties that fit within your budget.
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โ๐๐ญ๐๐ง๐ ๐๐ฎ๐ญ ๐ญ๐จ ๐๐๐ฅ๐ฅ๐๐ซ๐ฌ: Having a pre-approval can give you a significant advantage. Sellers are more likely to take your offer seriously when they see that you've already taken the necessary steps to secure financing.
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โ๐๐ญ๐ซ๐๐๐ฆ๐ฅ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐๐๐ฌ๐ฌ: Getting pre-approved for a mortgage streamlines the home-buying process. It expedites the underwriting process, so that once you find the perfect home, you can move forward with your purchase more quickly. This can be especially beneficial in fast-moving markets where time is of the essence.
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โ๐๐ฏ๐จ๐ข๐ ๐๐ข๐ฌ๐๐ฉ๐ฉ๐จ๐ข๐ง๐ญ๐ฆ๐๐ง๐ญ: Imagine finding your dream home, only to realize later that you can't afford it. This is a scenario that can be easily avoided with a pre-approval. By knowing your budget upfront, you can avoid disappointment and focus your efforts on homes that are within your price range.
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If you have any questions or would like to get your pre-approval, please reach out so we can help review your options.