DATE: Wednesday, August 10th, 2022 TIME: 3:35 PM PST STATES: OREGON & WASHINGTON CHANGE THIS WEEK: STAGNANT (since last…
You’ll know what you can afford
Getting preapproved before you shop is imperative, as it allows you to shop within your price range.
It gives you negotiating power
Having a preapproval always puts you ahead of a buyer who doesn’t. This is a game-changer when you’re in a bidding war with others.
It makes you more relevant
When the seller knows that your information has been reviewed by a mortgage underwriter, it makes everyone involved more confident – and gives your offer more significance.
It will help you save, not spend
When you’re in the market for a new home, it’s easy to get caught up in the excitement of making purchases. Having the details on your new home’s interest rate, closing costs and down payment will help you curb your urge to buy outside of your budget.
You’ll get the keys faster
Getting preapproved up front makes everything else move quicker. You’ll close faster, which means you’ll move in faster.