$\"Why$ <\/p>\n

If you\u2019re planning to buy a home<\/a> this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today\u2019s shifting market<\/a>?<\/span><\/p>\n

The truth is, getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways. <\/strong><\/p>\n

To better understand why, it\u2019s important to know what pre-approval is. Freddie Mac<\/em> defines<\/a> the process like this:<\/p>\n

\n
\u201cA pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home.<\/em><\/strong> The lender you work with will provide you with a pre-approval letter, which is an official document that states the maximum amount they are willing to lend you, . . .\u201d<\/em><\/p>\n<\/blockquote>\n
Put simply, pre-approval from a lender helps you understand your true price range and how much money you can borrow for your loan<\/a>. That can make it easier when you set out to search for homes. And since you\u2019ll know what you\u2019re approved for, it\u2019ll also help once it\u2019s time to submit an offer on the home of your dreams<\/a>.<\/p>\n
Another added benefit is that pre-approval lets the seller know you\u2019re qualified to buy their house. Paul Centopani, Editor for the Mortgage Reports<\/em>, explains<\/a>:<\/p>\n
\n
\u201c. . . most sellers won\u2019t even consider an offer unless the buyer is pre-approved at the right price point.<\/strong> Sellers and their agents want to know you\u2019re ready and able to finance your offer amount. So you\u2019ll want to have your preapproval teed up as soon as you\u2019re serious about bidding on a home you like.\u201d<\/em><\/p>\n<\/blockquote>\n
Every advantage you can gain as a buyer is crucial in a market that\u2019s constantly changing<\/a>. You\u2019re going to need guidance to navigate these waters, so it\u2019s important to have a team of professionals, such as a real estate advisor and trusted lender, on your side. They\u2019ll help make sure you\u2019re ready to put your best foot forward.<\/p>\n
Bottom Line<\/strong><\/h3>\n
Getting pre-approved for a mortgage helps you better understand what you can borrow and shows sellers you\u2019re serious about purchasing their home. Let\u2019s connect so you have the tools you need to succeed as a homebuyer in today\u2019s shifting market.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
If you\u2019re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today\u2019s shifting market? The truth is, getting a pre-approval letter from your lender is critical, and when it […]<\/p>\n","protected":false},"author":1,"featured_media":3118,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-3117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t