When you start the process of looking for homes, and you contact an agent, they will probably ask if you have already gotten a Pre-Approval for a loan. This is a standard question for almost every agent I know, me included.
Over the years I have found that some people take offense to that question for one reason or another. I will go ahead and apologize to those in the future that do. I promise you 100%, that agents are not trying to be nosy or dig in your financial business. There is a rhyme and a reason for this question.
Here are the top reasons, and possibly the only reasons a Pre-Approval is IMPORTANT:
1. It sets your budget. There is nothing worse than showing you a home that you fall in love with, only to find out that you can't afford it. It is heartbreaking for you, and me both.
2. It provides the loan type. Believe it or not, there are some homes that just will not pass FHA, VA, or USDA. If a home has peeling paint, and the seller is selling as-is, it will not pass FHA Guidelines. By knowing your loan type, we can pick the best homes for you to look at. In a HOT market, we don't want you to miss any homes while looking at ones that won't pass.
3. It shows you are a serious buyer. Sellers and agents appreciate that you already have a Pre-approval. It shows you are serious about buying.
4. If you like it, we can make an offer! Once you find the home you love, I guarantee you someone else will also love it. Even if it has been on the market a long time. If you have already have your Pre-Approval, we can go ahead and make an offer!
If you are thinking about buying a home, and need some help picking a lender, I'll be glad to recommend some to you. You can always call or text at 903 452 8915.