When Should I get Pre-Approved?

When my clients decide they want to buy a new home, they often ask me when should they get pre-approval for a mortgage.  Pre-approvals are only valid for 90 to 120 days or so, depending on your lender.  In spite of that, it is a good idea to sit down with a lender or mortgage agent as soon as you know you will be making a purchase.

Why?  In a competitive situation, you want to be the strongest Buyer possible.   This will give you time to make any adjustments needed to improve your credit and financial situation.  You will also be confident putting in that offer, knowing that the property is one you can afford.

Your lender or mortgage professional will let you know what you qualify for and what terms and rate they would likely be able to offer.  You will have time to review your options to be better prepared once the time comes to buy your new home with less worry and more joy!

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