Monday, May 21, 2012

Pre-approval Gives Everyone Confidence

The benefits of buyer's pre-approval are without question; it is good for the buyers, the sellers and the agents. It saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include:

  • Amount the buyer can borrow decreases as interest rates rise
  • Looking at "Right" homes - price, size, amenities, location
  • Find the best loan - rate, term, type
  • Uncover credit issues early - time to cure possible problems
  • Bargaining power - price, terms, & timing
  • Close quicker - verifications have been made

There a big difference in sitting down with a trusted mortgage professional compared to going through calculators on a website. The cost of being pre-approved is a bargain and generally, limited to the cost of the credit report.

Even if you have been pre-approved, a suggestion that can't hurt but may help is to get a second opinion from a different lender. It will either verify that you have a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you'd like a recommendation.

1 comment:

  1. Nice post, Mortgage calculators can calculate the total payment with primary, interest, taxes and insurance, called as the PITI payment. Payments can be calculated irrespective of the time period how it is paid - quarterly, monthly or biweekly.
    mortgage calculator

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