What is a pre-approval and how will it help me?

Beyond a pre-qualification, a formal pre-approval can be a very useful tool in your homebuying process. Many people shop for a home before they get a realistic idea of what kind of financing is available to them. This can lead to unrealistic expectations, unconsidered purchase offers, and disappointment. Even if you already have a property in mind to purchase, the first part of obtaining financing for that property is approving you as a borrower for the amount of money you will need. A great way to begin your homebuying effort is to start this process, also called “credit approval” before you ever look for a home. After an examination and verification of your credit, income, assets, and employment we can formally issue you a commitment to lend you a certain amount of money. With that formal commitment letter, you can show sellers that you are serious about, and able to follow through with any offers you make. This can give you a distinct advantage over so many other competing buyers who do not get pre-approved.