Why a Pre-Approval is Key!

When you’re ready to start your home buying journey one of the first things you should do is get pre-approved for a mortgage. This will set you up for success and give you an edge in today’s market. Here’s why pre-approval matters:

1. Know Your Budget

A pre-approval will tell you how much house you can afford. By reviewing your financial situation including income, credit and debt lenders will give you a clear picture of your buying power. So, you can focus on homes within your budget and save time and disappointment.

2. Show Sellers You’re Ready

In a competitive market sellers prefer buyers who are pre-approved. It shows you’re financially ready and able to move forward and your offer will stand out. A pre-approval letter will show sellers that you’re a serious buyer who won’t hit financing roadblocks.

3. Avoid Last Minute Surprises

Getting pre-approved early will uncover any credit or financial issues that could delay your home purchase. This will give you time to fix them before you start house hunting, so the buying process is smoother.

4. Lock in Your Rate

Rates can change. Some pre-approvals will allow you to lock in your rate for a set period while you’re house hunting, so you’re protected from rate increases.

5. Make Better Decisions

Knowing your loan options and how much you qualify for will allow you to shop with confidence. You can prioritize homes that meet your needs and financial goals without overextending yourself.

At Joonago Mortgage Services I’m here to help you every step of the way. Let’s get you pre-approved and start your journey to homeownership today. Contact me now!