We are continuing our series of tips for buying a new home in spring.
Springtime is here, and spring is the most popular time to buy a home! First time home buyers, new to the market may have a hard time navigating what questions they will need to ask to make sure the home of their dreams stays that way. One thing you can do to smooth out the home buying process this spring is to get preapproved.
5. Get Pre-Approved
Sellers want to know that the buyers they are dealing with are for real. They are living in a world of unknowns, and have no idea about your income, credit score, or debt to income ratio.
That’s why you need to get pre-approved: so they know for sure that you are a qualified and capable buyer.
With so many buyers on the market it’s virtually guaranteed that you will be competing with borrowers who are pre-approved. And when it comes down to filtering out prospective buyers, anyone with a pre-approval has a much higher chance of making the cut.
Not only will it show that you are pre-approved at a certain loan amount, but it tells sellers that you are a serious house-hunter who isn’t going to delay the transaction.
At Stonebridge Mortgage we are dedicated to making sure you end up in the home of your dreams. If you need any buying or financing for your home or office, we are here to help. Check out all Stonebridge Mortgage’s services.