Pre-Approval Should Always Be Your First

Pre-Approval Should Always Be Your First Step
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out.
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process.
Dustin Sanders of Home Financing, Inc. describes the ā€œ3 Cā€™sā€ that help determine the amount you will be qualified to borrow:
Capacity: Your current and future ability to make your payments
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Bottom Line:
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well. http://ow.ly/i/AehaN

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