Why Get Pre-Approved Before You Buy?

It's critical to apply for a loan before shopping for a home, and it's true; this is an essential first step for both first-time home buyers or seasoned investors. With buying pre-construction properties, many builders now require this document to fulfill construction loan conditions as set out by banking institutions that finance the project. The mortgage pre-approval is typically requested by the builder or their affiliates after the purchase becomes a legally binding contract or sale (aka a "firm deal"). Instead of being reactive, many savvy buyers and investors prepare their mortgage pre-approvals prior to purchasing, saving time, gaining confidence and avoiding disillusionment; you can minimize anxiety and remove last-minute loan surprises that could disqualify you, also sleep better at night knowing that the home you selected is yours.

Jason Lau

Jason Lau

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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