Scott Ruchek - EXP Realty / bre:01089997
Some advantages of getting preapproved for financing before looking at homes to purchase:
Helps you understand your budget:
A preapproval letter tells you how much you can borrow, giving you a better understanding of your budget and helping you focus on homes within your price range.
Shows that you are a serious buyer:
When you make an offer on a home with a preapproval letter, it demonstrates to the seller that you are a serious buyer and that financing is not an issue. This can give you a competitive edge in a competitive market.
Helps you close faster:
If you find the home of your dreams and make an offer, having a preapproval letter can speed up the closing process as the lender has already reviewed your financial information.
So getting preapproved for financing before you start looking for a home can save you time, help you focus on homes within your budget, and give you a competitive advantage in the market.
If you need to get preapproved for a home loan and want a referral to a home lender for the Greater Sacramento area, email me at
ScottRuchek@yahoo.com