Pre-Approval Letter

When house hunting, many buyers make the mistake of waiting to contact a lender until after they have located their dream home. As a buyer, you will be in a much stronger position with a seller if you are pre-approved.

Pre-Approval Letter

To effectively house hunt, you must know the amount you can borrow from a lender. There is nothing worse than find your dream home, but failing to qualify for the amount you need for a loan. Avoid this by asking your lender to pull your credit information and to let you know what needs to be done to get a pre-approval letter. If you are going to have problems with getting a loan, it is better to know about it as early as possible.

Sometimes buyers resist contacting lenders because it