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Pre-approval for a Mortgage

Tuesday, March 8, 2022   /   by Claudia Pecoits

Pre-approval for a Mortgage

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When you're preparing to buy a house, it's obvious that you should negotiate from the best possible position. In a hot real estate market, it's not uncommon for buyers to have to compete for the home they want, giving the seller the opportunity to pick and choose which buyer to negotiate with. As a result, it's critical that you take advantage of your own advantages to guarantee that your offer is the one that the Seller accepts.

By approaching the process incorrectly, the vast majority of Buyers put themselves at a significant disadvantage.

When you examine the procedure from the Seller's point of view, the point becomes evident. If you were selling your home and faced many offers, you would clearly prefer the offer that included a Certificate of Financing Approval over the other offers that were conditional on financing. In the first situation, the buyer is certain to have the financial means to purchase. There isn't in the second situation. When seen in this light, it's difficult to understand why so many buyers wait until after they've found a property to start looking for financing. Regardless of whether the majority of people will be accepted in the end, the timing of receiving a Certificate of Financing Approval is critical. When you present this document with your offer, it gives the Seller authority to accept your offer ahead of others who do not have this specific approval.

However, there are financial benefits to you as a Buyer as well, because starting the process early allows you to acquire a clear grasp on borrowing rates and closing fees, as well as prevent putting yourself under any time limitations that would compel you to overpay.

This information report is completely free and comes with no obligation to buy or sale with me.  If you or anyone you know is considering making a move simply contact me or pass on my info and I will be happy to share this amazing report. 

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IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.com. September 27, 2022
© 2022 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.9/27/2022 9:44 PM CST
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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