Pre-Approval Letter- Get One Today

Many people love their apartment home, but at some point they want to purchase a home of their own. Before most  homeowners will take you seriously, most future home buyers may want to get a pre-approval letter. Many would be buyers are turned off by the amount of paper work involved in the entire process. But rest assured there is some valid reasoning for the pre-approval letter. Moreover, most homeowners won’t take would be buyers without an approval letter seriously. In fact anyone can make an offer.

Many people believe that the pre-qualification letter is just as good. However, this letter is not based upon your financials, its simply a letter almost anyone can get from their mortgage broker. A pre-approval will require the verification of a few important items on your background.  Rather than just taking your word for it, a pre-approval letter will require the amount of your down payment, financial circumstances like your income (many times 2 years of it), and your social security number. The pre-approval letter is more stressful but it is also carries much more weight and indicates to the homeowner how serious you are.


Remember that you although you may have a rough idea of how comfortable you will be paying a certain amount of money towards your mortgage every month, there are other items to consider. The total down payment, property taxes, insurance, and interest rates are all factors that may influence the total out of pocket expenses you will have every month.
 If you have a real estate agent that will signal that the homeowners are much more likely to negotiate with you if you have procured that pre-approval letter. The letter will  also influence your real estate agent to deal with you on a more professional basis.
The pre-approval letter will tell your agent that you are approved for the loan. This will increase the likelihood of the complete transaction. Also your agent may be more devoted to spending time with you and helping you to get the best deal possible. Some agents will not even show a home in some cases if the owner does not have that pre-approval letter.

Also if you are serious in your home search, you will want to get a pre-approval letter so you can know how much money you have to work with. Get your pre-approval letter today.