Getting pre approved for a loan is a worthwhile step to take when you make the decision to purchase a new Fairfield County home. It is not that time-consuming and can be done over the phone. The time you devote to this task upfront can save you a significant amount of time down the line and knowing how much your are pre approved for will enable you to make solid decisions. You will know exactly in which price range you should search and ultimately in which price range you want to buy.
You may qualify for less than you think so why spend your time looking at homes that are above your head. I’ve seen that happen and it made for a disappointing home search. Conversely you may qualify for more than you think and this you will not know by simply doing the math yourself. Real estate financing is available from many sources and a good mortgage broker will not only have access to these sources, but will be knowledgeable about special programs and services that may benefit you.
Lastly, you never know when that perfect home will come on the market. Sometimes it sooner than you think and seeing just the right home is often what motivates someone to act even before they thought they might. Whenever you act, it is only in your best interest to have that pre approval in hand ahead of time as that will be part of the offer your Realtor will submit to the listing agent. It’s a nerve-wracking process so why not make it as simple as possible by not having to scramble at the last-minute. Very important….when you find a house you like there is no value in waiting to submit your best offer. There is only disadvantage as there may be someone else who wants the home too who may come along with a stronger offer. So having that letter in hand a head of time may mean the difference between getting the home or not.
Keep in mind that you are not obligated to use the same mortgage broker that supplied you with your pre approval. However, while you are getting that pre approval you can start the process of interviewing a mortgage broker to see if they are a good fit for you. Check out the Professionals page for mortgage brokers that can help you and I invite you to contact me so that I may help you search for your new Fairfield County home.