10-11 The NedderGroup - Youtube Thumbnail.png

I’m Lucy Magnus and I'm a licensed realtor with the Nedder Group here in Fairfield County Connecticut.

Today I'm going to talk to you about the importance of a mortgage pre-approval. I have three pros of pre-approval that you can’t forget when you’re starting your home buying journey.

Recently, I've been very fortunate to be working with a lot of first-time home buyers. Mortgage pre-approval is a huge education piece that I'm walking through with home buyers.

What I'm noticing is there seems to be a little bit of a phobia when I get to the mortgage pre-approval piece. You know, a mortgage pre-approval entails disclosing a lot of financial information. It feels very exposing there's a credit report, but what people don't realize is that it's a really, really crucial step of the process.

Know Your Budget

There’s nothing worse than learning that you have been looking at homes that are not in your price range. With a mortgage pre-approval, before you even go out you know exactly how much house you can afford comfortably. And you can shop with confidence knowing when you do finally find the house of your dreams, that you can afford it. That’s a really really good feeling.

Make Your Offer More Attractive

A mortgage pre-approval makes your offer more attractive in a multiple offer situation. You're already saying to the seller, look I can afford this house, I want this house, and I've already been approved to buy this house. That's very powerful, and it definitely is important, especially in this competitive marketplace.

Pre-Approval for Peace of Mind

With a mortgage pre-approval you can go into this home buying process really knowing what you can afford, and have the confidence early on when you find that house of your dreams. You set yourself up for success knowing you are ready to go and ready to make an offer and secure a home. You’re starting a new chapter for yourself, and you want to start off on the right foot. If for no other reason you should get pre-approval for your own peace of mind. It will make the home buying experience go that much more smoothly for you.

Listen, we have wonderful lenders that we recommend and work very closely with. You may even know of lenders yourself, the key is to get that mortgage pre-approval done and out of the way early in the process so we can get you to your dream home even faster.

If you have any questions feel free to reach out.If you’re interested in buying or selling in Greenwich Connecticut, give us a call.