Why Get Pre-approved for a Charlotte NC Home Loan?
There are a few things you can do to make the process of buying a new Charlotte NC home easier and faster. Getting pre-approved for financing is one of them. Here are four advantages of loan pre-approval:
REALTORS® Take You Seriously
When you walk into an agent’s office or meet an agent for the first time with pre-approved financing, the agent knows he is not going to be wasting his time showing you homes. If you do not have pre-approved financing, be prepared for agents to ask a lot of questions and likely will request that you get financing in hand. They are not trying to be invasive, rather they are avoiding "tire kickers" while, at the same time, helping you streamline the process.
View Homes that Work for You...Financially
Looking at properties that fit your financial qualifications works best for both you and your Realtor®. Touring homes that are beyond your 'means,' not only wastes your time and your agent's time but, later finding that you need to be looking at homes that are lower priced can lead to disappointment for you. If you think you qualify for homes that are higher priced, locate one that you love and find out that the price is beyond your qualifications, it is nearly impossible to find a 'replacement' home in a lower price range.
Make an Offer from a Stronger Position
Sellers feel more confident dealing with buyers with pre-approvals in-hand. When you have pre-approved financing, sellers are more apt to work with you on price, or other needs, in order to close the deal. They know that there are not going to be contingencies on a loan, or waiting and wondering if you qualify for the loan. They know they don't have to worry about turning other prospects away and then finding out you haven't been able to get a loan.
Quicker, Smoother Closings
Getting pre-approved for a loan means no waiting on the biggest of all hurdles before Closing. Other items needed to Close on a Charlotte NC home purchase usually move quickly, but loan applications can drag out and require setting a Closing date far into the future to allow for the time needed.
Less Stress for Both Buyers and Sellers
Above all else, having your financing in-hand prior to beginning your search for the perfect Charlotte NC home for sale, makes the entire process less stressful for you and everyone else involved. Knowing that you have the money to back you up when you do locate the home of your dreams is much better than finding paradise and then having to worry about getting financed and possibly losing your dream home.
If you would like to find out more about pre-approved home loans, I am happy to send you a list of lenders who can get you pre-approved and ready to go house shopping!. Contact me at (704) 491-3310 or email me at Debe@DebeMaxwell.com
(THE best Charlotte home search available - no kidding!)
Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
Great advice, Debe. No point in looking at homes until you know exactly what you can afford or choose to afford within your means. Then the realtor can focus in and make the buying process much more fulfilling and successful.
Pre-approval is a great tool to increase the value of an offer. Great post Debe.
Debe-Great post indeed, sellers will see that you are serious.
All great reasons Debe why you should have your financial ducks in order before purchasing a home!
I have to call my loan officer and let him know! LOL Seriously folks As a lender I can tell you that a pre approval is almost a requirement in this environment. Any little hiccup can threaten your chances of getting your loan approved. Whoever you use to do your financing insist on a pre approval not just a pre qualification! Great advice Debe!