Buying a home isn’t a simple process; it’s a process that goes a lot deeper than finding a nice home for sale with pretty pictures on Zillow. It’s important to be prepared when starting the home buying process and the best way to do that is to reach out to a real estate agent right here in Phoenix and get pre-approved for a mortgage.
Here are the top 5 reasons to get pre-approved for a mortgage before actively searching homes for sale in Phoenix:
1. You Will Know What Areas To Search For Homes
Once you hire a real estate agent in Phoenix and get pre-approved, it will allow you to consider locations around the area that you can afford. Overall, it is much better to have a plan where your new home is in a location where it won’t cost you a lot more than you should really pay, and getting pre-approved will show you what locations those may be.
2. You Will Know Exactly What Price Range You Can Afford
After the pre-approval, you will know exactly how much you can afford and it will allow your Realtor® to better assist you in finding a home for sale in Phoenix within the price range that you’d qualify for.
3. Boost Confidence With Sellers
When you get pre-approved and have a letter of approval, your offers on homes become much more appealing. In fact, that piece of paper showing what you’ve been approved to purchase will provide a lot more confidence to sellers as you submit offers on a home.
4. Speed Up The Home Buying Process
Getting pre-approved for a mortgage will not slow you down. In fact, it will speed things up and get you the opportunity to get into the home of your dreams, much, much quicker. There will be fewer obstacles to run into, and you will have less of an issue getting your finances together.
5. It’s Such A Simple Process
A lot of home buyers have the wrong idea of the mortgage pre-approval process. Getting pre-approved is not a wild commitment. It’s a tool for you to use during the home buying process. Just because you get pre-approved doesn’t mean you’re forced to buy a house. If anything, getting a pre-approval on a mortgage will lessen the risk that goes into the home buying process.