Mortgage Pre-Approval – Get an Answer in Minutes!
One of the big advantages of getting pre-approved is that you are going to know how much home you can realistically afford – it may be more than you think! This way, you will know how much your mortgage payment is going to be ahead of time. Many people spend time looking at properties that they could never get approved for. If you get pre-approved, you are not going to have to worry about this problem.
Another advantage to getting pre-approved for a mortgage is it will increase your negotiating power, you may even have the option of getting a reverse mortgage in the future. When you start looking at properties after being pre-approved, real estate agents and sellers are going to feel more confident going to work with your best interests in mind. If you make an offer on a property, it is automatically going to jump ahead of offers from people not pre-approved. When buyers are not pre-approved, this represents a level of uncertainty for the seller.