If you’ve been searching the market for your next home, you’ve probably realized that the current inventory is limited. The housing market is competitive for buyers, making finding a home that matches your vision even more challenging. According to the National Association of REALTORS®, homes only remain on the market for 18 days on average, meaning buyers may feel pressured to act fast. Competition is indeed high, and you can view homes if you don’t have a pre-approval letter. However, make sure that your financing is in order by getting pre-approved before you start your search. The Jana Caudill Team explains the benefits of having your mortgage approved before you shop for your next home.
Buyers can view homes even if their mortgage hasn’t been pre-approved. That being said, it’s best to avoid doing so if you are serious about purchasing a home. Plan on talking to your lender to decide on a budget and the monthly mortgage payments. Not only does a pre-approval letter make your house search easier, but it also shows sellers that you are dependable.
Getting your mortgage pre-approved is beneficial for several reasons:
Ultimately, a pre-approval is more favorable to a buyer because it gives you credibility in your home search. Our agents at The Jana Caudill Team are confident that we can help you secure a positive outcome.
Buying a home is a big decision, and you want the process to be as stress-free as possible. Given the benefits of a pre-approval, it’s time to make your move. Contact our realtors today to begin your home search!