top of page
Pre-Approval
A crucial step for individuals who are looking to purchase a new home. It is a letter from a lender stating that they have reviewed the borrower's financial information and are willing to provide them with a certain amount for a mortgage. This commitment from the lender often comes with an interest rate quote, making it easier for borrowers to plan out their future housing expenses. A pre-approval lets sellers know that the potential buyer is serious and capable of obtaining financing, which can make them more likely to accept an offer. Additionally, pre-approval streamlines the home buying process by getting much of the paperwork and due diligence out of the way early on. However, it is important to note that pre-approval does not guarantee final approval for a mortgage, as lenders may revisit the borrower's financial situation before closing. Overall, obtaining mortgage pre-approval can give homebuyers peace of mind and help them make more informed decisions about their future homes.
bottom of page