Why is Getting Pre-Approved for a Home Loan Important?
Most obviously, getting pre-approved for a home loan is your first step in being able to make your Houston area homeownership dream – a reality!! Additionally, it gives you a huge advantage over other homebuyers out there who have not yet been formally preapproved. Some buyers have been pre-qualified; a more superficial analysis of a person’s ability to buy a home – and this is a good thing. However, prequalification is not taken as seriously by home sellers as becoming preapproved is, which requires actual evidentiary paperwork to back things up (your taxes, paystubs, bank statements, etc.).
Home Buyer Tip:
Home sellers prefer to open conversations with homebuyers who have proven themselves to be ready, willing and able homebuyers! Pre-approval makes this evident and puts you in a winning position.
Knowing how much you are preapproved for dictates which homes to include (or exclude) in your home search! This makes life a whole lot easier. Here’s a word to the wise: Don’t buckle yourself into that searching for homes before knowing how much I qualify for a rollercoaster seat unless you are ready for the emotional rollercoaster ride of your life. Falling in love with a home that you’re not qualified to buy is certain to disappoint! Tears to follow…