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Getting Pre-ApprovedBefore you start the search for your new home in the popular Inland Empire real estate market, it is advisable to get pre-approved. Being approved for a mortgage is one of the greatest contingencies when closing a property transaction, so you will save both time and money by getting pre-approved as soon as you’re ready to launch your home search. Your lender will look at your loan application, employment and credit score when pre-approving you for a certain mortgage amount.
By having a pre-approval letter you, as a buyer, can:
Save time and effort. As your agent, I can help you find the best properties in the Inland Empire based on your criteria. By knowing how much home you can afford, we can limit the time and effort you spend on seeing, examining and considering homes that are outside of your price range and instead focus all your efforts on finding the best possible home within your budget.
Minimize anxiety and disappointments. As a pre-approved buyer there is no need to worry about whether or not you can afford the best home you find. Instead you can confidently view and compare properties, and then be at ease when making an offer.
Increase confidence and bargaining power. Sellers generally have a more positive attitude towards buyers who are pre-approved, since a pre-approval minimizes their risk. You may even find that a seller accepts an offer that is less than the asking price in exchange for the peace of mind that you are actually qualified and approved to pay.
Speed up the process. Because your loan is already processed, you can greatly reduce the closing period – sometimes even by as much as 2-3 weeks.
To learn more about how you can make home buying in the Inland Empire easier, please contact me.
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