Home Buyer Tips: Get Pre-Approved Before House Hunting
Your first visit should not be an open house, it should be to your lender. 
Sellers typically do not entertain offers without a pre-approval letter.
They want to know that you are a serious buyer with the ability to borrow funds.
Be sure to review your pre-approval letter. They typically expire after 60-90 days of issuance.
We all know how fun it is to look at homes! First, you start online, then you might start going to open houses or new construction; places you don’t necessarily need your personal real estate agent to open the door for. We agree it’s quite an adventure! Be wary–without knowing how much you can afford you could be walking into a disappointment. Our #1 reason to recommend getting pre-approved before looking at homes is to ensure you don’t end up heartbroken by looking at a home outside of your budget.
That said, the most important reason when shopping for a home to have a pre-approal letter is to let the seller know you are a serious buyer who can afford the home you’re making an offer on. Seller’s are accepting a risk when agreeing to sell their home, no matter who it is, but providing a letter of pre-approval can provide them peace of mind. This makes you, the buyer, more favorable in turning in your offer than a buyer who doesn’t have a letter to share.
Under most circumstances, you’ll want to apply and receive your pre-approval letter when you’re ready to seriously start looking for homes. A pre-approval can last 60-90 days, after which point you’ll need to update your information with the mortgage lender and receive a new letter.
If you are ready to see how much you qualify for, let us know and we can refer you to some of our trusted and preferred lenders. 919.295.7532
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