All good real estate agents showing buyers homes for sale in Northern Virginia will agree that the benefits of having a lender’s pre-approval are undeniable. It is good for everyone involved in the home buying process; buyers, sellers and agents. It saves time and money and gives confidence that the buyer is ready to purchase, and not just browsing.
Some direct benefits include:
- Easier to focus on best homes for buyer – right price range and location
- Shop for best loan early – have idea of rates, term and type
- Uncover credit issues early – time to cure possible problems
- Bargaining power for buyer – price, terms, & timing
- Close more quickly – verifications have been made
There a big advantage to sitting down with a trusted mortgage professional over using calculators on a website. The cost of being pre-approved is usually limited to the credit report fee, and is worth every penny considering the amount of buying power you gain.
Even if you have been pre-approved, it can’t hurt to get a second opinion from a different lender as well. It will either confirm that you have a good deal or you may find a better one. Either way, it works to your advantage. Contact me if you’d like a recommendation, and are ready to find your new home in the Northern Virginia real estate market.
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