
If you’re buying a home with a mortgage, you absolutely need to get a pre-approval first. Here’s why. There's no doubt about it. It's a very competitive market today if you are looking to buy a home. Inventory is near record lows, and more and more homebuyers are entering the market. This means you need every advantage to grab that perfect home when you do find it. One no-brainer is to get pre-approved for a mortgage. A pre-approval informs you of how much you can borrow and it's something you will need to do at a later point anyway. A pre-approval can mean the difference between having your offer accepted or having to watch your dream home go to somebody else in a crazy market like this. In spite of all these good reasons, less than 10% of buyers who got a mortgage get pre-approved by the lender who originated the loan. In other words, you can definitely get a leg up on the competition by starting your home search at the loan office rather than at the open house. A pre-approval de...
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