Negotiate hard until both parties agree to sales terms. Then the buyer panics, suddenly realizing a home loan must be shopped for, arranged and finalized to complete the home purchase. Savvy homebuyers, real estate agents and financial consultants agree that the best way to buy and finance a home is to first arrange for a mortgage.

Here are some of the benefits a pre-approval brings:

Negotiating Power

Equipped with the knowledge of how much the loan amount will be, you will be recognized by Realtors® and sellers as a serious buyer. With a pre-approval establishing your buying qualifications, you may be able to negotiate a better price.

Less Stress

A pre-approval can help reduce the anxiety involved in the home buying process. You’re better able to concentrate on one thing at a time, giving your undivided attention to important decisions you have to make regarding home selection, home inspections, legal ramifications and more.

Financial Perspective

Find out what you really can afford. Maybe you’ve been selling yourself short! Conversely, maybe that home you’ve fallen in love with – and gotta have – will stretch your finances to a no-margin-for-error level.
With a loan approval in hand, your financial parameters are now set and this makes you a better buyer.

Clout

Say that your bid on a must-have home is similar to that of another homebuyer’s. But you’re pre-approved for a home loan up to a specific amount; the other buyer has only the hope that he or she can obtain financing. Whose bid do you think the seller would consider first?

How do you get pre-approved?

In many ways, the process is similar to applying for a loan, except that you are arranging the financing before you shop for a home. And, once you’ve done it, you won’t have to do it again. All the information on the pre-approval is transferred to your actual loan. It makes so much sense to reverse the traditional sequence of buying a home. Imagine the worry-free and speedy service that real estate agents and builders are able to deliver when a client has been pre-approved for a loan. And with your pre-approval, you’ll be able to show everyone – Realtors, builders and home sellers – that you’re not just window shopping. You’re ready to buy!

Click here to start the pre-approval process today.