#tgif #firsttimehomebuyers #preapprovedbuyers
Here is my Top 5 Reasons to be a Pre-Approved Shopper:
Know exactly how much you can afford, and you won't waste time looking at homes you can not afford.. Or get your heart set on.
Many times, in today's market, you will face multiple offers on the table for the same property. If you have a Pre-Approval letter from your Lender (ME-of course), you will have the upper hand and possibly save you money with a slightly lower offer.
3. Saves you Time
With your Lender already having checked your Credit - Income - Assets, you will have saved time once you put your offer in for your new home. Now all your Lender (ME-of Course), has to do is gather the information and additional data needed for closing, and order your appraisal.
4. Additional Costs
With an Initial Itemized closing costs sheet, a Good Faith Estimate - GFE, provided by your lender, you are now armed with all the information on costs coming your way. You will not be blindsided working with ME, and feel more in control of your money. It will also help when making decisions on buying a home that might need repairs, landscaping, renovations, and any other work you may want done.
5. Power in Negotiations
Being pre-approved for a mortgage lets homeowners know that you are serious about buying a home and demonstrates you have the ability to perform. This gives the buyer the advantage of strength in negotiations since your approval is as good as a “done deal” when it comes to buying a home, and allows you to offer a lower price than what a property is listed for on the market. Owners may be debating between your offer and a higher offer from a buyer who hasn’t been pre-approved. Your status just might motivate them to be a little more flexible with your terms.
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American Housing Captal LLC. d.b.a TotalChoice Mortgage | NMLS ID 34976
Schaun Blakeslee NMLS#873166 An Illinois Residential Mortgage Licensee, Is Regulated by the State of Illinois Department of Financial and Professional Regulation, Division of Banking located at 100 West Randolph Street 9th Floor, Chicago IL 60601, Mortgage Banking Examinations Phone 312-793-3000
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