“Don’t Settle for Pre-Qualification: Get a Complete Pre-Approval Instead”

Young couple looking for homes for sale in Columbus Ohio

When it comes to buying a home, many homebuyers make the mistake of only getting pre-qualified for a mortgage. While pre-qualification can give you a rough idea of how much you can afford, it’s not a guarantee that you’ll actually be approved for a loan. That’s why it’s important to get a complete pre-approval that has been underwritten to validate the income, assets, liability, and credit.

Here’s why:

1. competitive market and may help you negotiate a better deal.
2. A complete pre-approval gives you a more accurate idea of your budget: When you get a complete pre-approval, a lender will thoroughly review your financial documents, including your credit report, bank statements, and tax returns. This will give you a much more accurate idea of how much you can afford to spend on a home.
3. A complete pre-approval strengthens your negotiating position: When you make an offer on a home, having a complete pre-approval shows the seller that you’re a serious buyer who is likely to secure financing. This can give you an advantage in a
4. A complete pre-approval speeds up the closing process: Because your financial documents have already been reviewed and verified during the pre-approval process, the closing process can go much more quickly and smoothly. This can save you time and money in the long run.
5. A complete pre-approval can help you avoid surprises: By thoroughly reviewing your financial documents, a lender can identify any potential issues that could affect your ability to get a mortgage. This can help you avoid surprises and make a more informed decision about which home to buy.

In short, getting a complete pre-approval with underwritten income, asset, liability, and credit is an important step in the home buying process. It can give you a more accurate idea of your budget, strengthen your negotiating position, speed up the closing process, and help you avoid surprises. If you’re serious about buying a home, it’s worth taking the time to get a complete pre-approval.