Recently we have had a lot of friends and prospective clients reach out and ask me about the home buying process. In the early stages of searching to become a first time home owner I always tell people the same thing. Having a pre-approval for a mortgage loan is the most important tool you can have. Obtaining a pre-approval shows you exactly what you can afford and what type of cash you need toward a down payment to achieve your desired monthly costs. When it’s time to submit an offer on a property of your choosing, supplying a pre-approval letter with that offer shows the seller you are good for the money, thus making your offer more attractive. 


Without a pre-approval for a mortgage loan you can be left in the dark knowing what is or isn’t in your price range. Should you submit an offer on a house that gets accepted before you have been pre-approved, the deal can fall through if you are not able to secure the necessary funds and it may result in forfeiture of any Ernest monies given with the offer. 


With all of that said, Pre-approvals are incredibly important. If you have any questions about the pre-approval process feel free to reach out to us. Give us a call at (615)- 794-1411. 


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