If you’re even considering purchasing a home in the next year, the time to start the pre-approval process is now. Why so early? Here’s some advice to get you on track to a smooth purchase transaction. While you don’t want to actually apply for the loan until your are ready to make an offer on a home, working on the pre-approval process allows you to address any concerns that crop up on your credit report, save for extra downpayment, and know how much you can afford before you fall in love with that out-of-reach house.
Shop smart
House hunting without knowing how much mortgage you can be approved for is like a novice making a cake without following a recipe. It might turn out okay, but more likely it will be a disaster.
In a competitive market, you might find the perfect house, but can’t make an offer on it because you don’t know if it’s even in the ballpark of what you can afford. That house could slip through your fingers because other—more prepared—buyers know what fits their budget or overall financial situation, and can make the offer at once. Many sellers, or their agents, reject offers from potential buyers that do not have a preapproval letter from their bank. When the buyer has a preapproval letter, the lender has already verified the borrower’s information, documentation, employment history, income and credit. Even though the preapproval is not an actual loan commitment, it is farther along than without it, and can shorten the underwriting process and loan approval process.
Seek professional advice
As your real estate professional, we can point you in the right direction before you get too far in the process of home shopping. We know lenders that can meet your needs and give you direction on which types of loans might work for your situation. Fill out the form on this page and well send you 3 great local mortgage professionals that can you get you started with the pre-approval process.
“I recently relocated from Europe to the US and had the pleasure of working with Amber McClure as my realtor. Amber went above and beyond being just a realtor. She acted as a consultant, taking the time to understand not only my needs but also my family's needs. Her availability, responsiveness, and professionalism were exceptional. She patiently gu…ided us through the process, allowing us to discover what we liked and didn't like in our new surroundings, and find the right home for us.
What truly set Amber apart was her human touch, showing genuine care and making our relocation experience a positive one. I highly recommend her to anyone in need of a dedicated and personable realtor”Read More ▾
“
From start to finish, Francesca’s professionalism was exceptional. She demonstrated an impressive depth of knowledge about the local market and offered valuable insights throughout the entire process. Beyond her expertise, Francesca was incredibly personable and made my experience both enjoyable and stress-free. Her dedication to finding th…e perfect home for me was evident in every interaction. If you're looking for a realtor who combines professionalism with a genuine, friendly approach, Francesca is the one to choose!
Reply
”Read More ▾
Francesca Mannetta
Director of Growth & Operations / Realtor
“Our experience with Norhill was excellent. Our agent Jennifer Zapalac was incredibly helpful and knowledgeable. She made the process of buying our first home as easy and painless as possible. She is caring and will explain every step of the process in detail. Will highly recommend working with her and Norhill to anyone looking to buy or rent.
”
“I have an impressive experience of purchasing home in Houston through the help of Ms. Raya from Norhill Realty. She has enough patience and work hard to help me look for home. I recommend this Brokerage firm. Raya is very reliable.
”
“From start to finish our experience with Lydia Davies and Norhill exceeded all expectation. Lydia went above and beyond for us every step along the way. We had every confidence that our best interest was at the center of the transaction.”
“I have known Mark for many years and he is one of the most trustworthy people out there. You can depend on him to help you and your family get where you need to be. My family and I have been looking for a home for years, and he would always keep in touch if he saw anything even at times when we felt there was nothing. We finally found our home and …closed last week. Couldn’t have done it without him and his team!
”Read More ▾
Mark Brawley
Broker / Co-Founder
Norhill Realty
By submitting information, I am providing my express written consent to be contacted by representatives of this website through a live agent, artificial or prerecorded voice, and automated SMS text at my residential or cellular number, dialed manually or by autodialer, by email, and mail.
