When is the Best Time to Get Pre-Approved?
Filed under: Home Tips
Did you know that the pre-approval process needs to happen long before you buy a house? If you are looking for a home for your family, then you need to be proactive so that everything goes smoothly when you find the right property. I know it’s not exciting to sit down with a mortgage broker or financial analyst to go through the paperwork. But, this step is essential before you get to the fun part of searching for a new home.
Planning to Buy a Home in the Next Year?
A mortgage broker will help you work through all of the documentation that is needed for pre-approval. If you are planning to buy in the next 12 – 18 months, a meeting with a financial expert is invaluable. Working through pre-approval costs only your time. The benefits are amazing so that you are clear about your financial situation. You will learn:
- How much you qualify for right now
- How much your payments will be
- Identification of anything that needs to be cleaned up before you will qualify for financing
Knowledge is Power
Starting this process early will give you lead time to fix anything that needs to be addressed. Knowledge is power! Learning about your financial situation will help you make the changes that are necessary so that you can qualify for the necessary financing when you find the home of your dreams.
The more you know about your parameters for buying a house, the more effective of a buyer you are going to be. It’s never too soon to get pre-approved! Ultimately, it will save you time and allow you to focus on the right neighborhoods. When you know your budget for the home purchase, then it’s easier to get granular with your property search. Not only will you know your anticipated payment, but you can look at details such as tax rates and anticipated utility costs.
You can never have enough information to ensure a smooth home-buying process. If you are looking for more tips about buying a home, then I’m here to help. Contact me to learn about the Temecula real estate market. Call, text or email any time for assistance with your real estate purchase: (951) 473-0390 or [email protected]