Before we start looking at properties the most important thing to do is talk to a local lender and get pre-approved!
Why is it important to get Pre-Approved?
Because pre-approval, as opposed to pre-qualification, signifies that the loan application has been taken through a rigorous procedure.
Having a pre-approval from a local lender shows that you are a serious buyer and are able to close a deal.
Here's why pre-approved buyers are ahead in the home buying game:
If you make an offer on a home and then apply for a loan, you are at the lender’s mercy, who is aware that you do not have time to shop around.
Pre-approval saves time spent looking at houses you can’t afford. Or the reverse may be true: you may discover you can afford more than you thought!
A pre-approval letter from a lender gives you an edge when multiple offers have been made on a house.
It is so important to make the strongest offer possible and having a pre-approval makes your offer more desirable to a seller.
Pre-approved buyers can generally close escrow more quickly, since most of the work has already been done.
Having a pre-approval also limits any last minute surprises that can derail your escrow and keep you from closing on your dream home.
Ask your Rahill team member for recommendations of local lenders and get one step closer to getting the keys to your new home!