Buying a home can be a strenuous process if you do not understand the ins and outs of the real estate business. As a first time home buyer you should spend time learning about the laws and accommodations available for you to make that process much simpler. One of the most effective ways to make your home buying experience less stressful is by going through the mortgage pre-approval process. Having your mortgage pre-approved will make the Realtor fall in love with you and open the doors to you finally getting your dream home. Here are 5 reasons mortgage pre-approval is such an energizer for real estate agents.
- The real estate agent recognizes that with a pre-approved mortgage you are qualified to take on the financial responsibilities of owning a home.
- Going through the mortgage pre-approval process will increase the chances that your real estate agent will close a deal. Knowing this information up front will only make your agent’s job simpler.
- Mortgage pre-approval is vital in the negotiating process. As a buyer having a pre-approved mortgage will open your doors to more potential sellers. Knowing that they can trust your financial history is especially beneficial for a first time home buyer.
- Having your mortgage pre-approved will allow you to dodge interest rate fluctuation. Interest rates tend to increase throughout the year depending on the market. Once you are pre- approved you can hold on to the same interest rate you signed up for no matter how much the rates increase in the market this can potentially save you money over the long term of the mortgage.
- Mortgage pre-approval has extreme value in todays' market. It showcases to your real estate agent and home seller that you are serious about finding a new home.
Finding the home for you and your family will be one of the most rewarding experiences in your life. Finding a real estate agent that will work day and night for you is extremely important but to present them with a pre-approved mortgage will be what pushes your file to top of the pile. Simply put, mortgage pre-approval makes the finding and buying a home process easier for everyone.
You can get your pre-approval process started with a mortgage consultant by clicking the button below. Let us help you figure just how much home you can afford.
(yes: Flickr user Artotem)