Get a Mortgage Pre-Approval

An important ingredient in a successful home search is having a clear picture of the financial aspects. You don’t want to fall in love with a property only to find out it’s outside your price range… nor do you want to miss out on a gem.

That’s why I recommend getting a Mortgage Pre-Approval with a local lender. This is a document from your bank or other lender stating how much of a mortgage they are willing to give you. There are two advantages to getting this pre-approval:

• It gives you the peace-of-mind payment will be within your comfort level, knowing you can afford homes you view on the market, and A smooth process arranging financing.
• It’s a sign to sellers that you are a serious, prepared buyer – which gives you the edge when making an offer.

You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a good mortgage broker. I’m well-connected in the local real estate scene, so if you want me to recommend a reputable broker or lender, please contact me.

I always recommend local lenders as they understand the unique neuances of the diverse range of our mountain properties.

How Much Home Fits Your Budget?

Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward. You can usually get a Mortgage Pre-Approval in a day. You’ll be glad that you did.

By knowing what you can afford, you can confidently shop within that price range. For example, if you qualify for a $250,000 mortgage, and you have another $100,000 available as a down payment, you can look for homes in the $350,000 range.

Have questions about arranging financing? Please submit the form below or reach out by phone or email.