Do I really need a Pre-Approval or Pre-Qualification to buy a house?

Do I Need Preapproval To Buy A House

A Pre-Approval is a great tool for you and your Realtor when making an offer on a home. The Pre-Approval serves a few purposes:

  • Demonstrates to your Realtor that you are a serious buyer
  • Strengthens your offer — the seller knows you can qualify for a mortgage
  • Enables your lender or broker to troubleshoot your loan before you are under contract
  • Empowers your loan officer to convince a seller’s Realtor that you are a strong buyer
  • Allows for time to fix any potential credit issues should any appear on your credit report
  • Simplifies the mortgage process once you have a ratified purchase contract

Additionally, during the Pre-Approval process, your Loan Officer can also assist in evaluating your options and answering any home buying questions, before you make an offer. Estimating monthly payments, evaluating down payment options, explaining closing costs, and many other variables can be reviewed.

If you are serious about purchasing a home, you absolutely should get a Pre-Approval. We think you should get one from LendSolid, and would be happy to help. There is of course no cost for a Pre-Approval, and we would be happy to answer any other questions you or your Realtor may have about the loan process, or mortgages in general. We look forward to hearing from you!

To learn more about how we can help you with your particular situation, please email or call us today at (301) 325 2542.