Last week, the TOP BUYER TIP in today’s seller’s market was to get pre-qualified (unless, of course, you are paying cash for your next home.) So, what does pre-qualified actually mean, and how do you get started?
Getting pre-qualified for a mortgage loan requires that you select a mortgage lender (Don’t know who – I have a few that I worked with for years and come highly recommended) to work with and obtain your loan. Visit our website for our preferred partners
Really, mortgage pre-qualification is a promise from the lender that you’re qualified to borrow up to a certain amount of money at a specific interest rate, subject to a property appraisal and other documentation. And in most cases, it’s FREE. Yes, I said FREE.
In today’s housing market, without one, you don’t stand a chance. Sellers are receiving multiple offers on their homes within hours of putting them on the market. Having a pre-qualification letter in hand proves to the seller that you are serious about moving forward and provides you with bargaining power.
If you need some help talking through this financial piece, give me a call at 317-625-0655. I am here!