Why Do I Need to Get Pre-Approved?

If you are thinking about buying a home you’ve probably heard a lot about getting pre-approved. So what does that mean?

The pre-approval process is the process of speaking to a mortgage lender and getting them information like your paystubs, debts and letting them run your credit. Based off all of this information they will determine if you are approved to buy a home, how much house you could afford and the best loan type for you.

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The Maroon Group Podcast

For our team, we always start here. It is extremely important to us to protect you financially. Understanding the numbers and what your home will actually cost you is necessary to make sure you buy a home that works for you and your family. Talking to the mortgage lender is how we make sure we can take care of you.

Sellers also only want to show their house to a buyer who can actually purchase the house. The only way for them to know this is to know you are pre-approved to buy a house. The definition of a buyer is someone who can buy and a pre-approval proves that we are able to purchase.

Do not start shopping for a home without having a pre-approval. If you can not buy the home, do not go see it. Why? If you fall in love with a house you are touring and can’t pull the trigger, then someone else will buy it and it will feel like a punch to the gut because you keep losing out on homes you like. Get pre-approved first.

If you want to connect to a great lender in Hampton Roads, Virginia reach out to us at www.maroongroupva.com.