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Pre-approval...
Before you get out there shopping, we want to be sure your loan is pre-approved. After all, you want to be prepared when you find the perfect home. A pre-approval is a great tool--it helps your Realtor present a the strongest possible offer on your behalf.
Get things set up early

Imagine you see a house you really like in, say, 30 or 60 days. Will you want to make an offer? Yes? Maybe, even? If so, it’s time to get pre-approved.

A pre-approval is your lender’s written statement that you qualify for financing. This is more than just a nice confidence booster. The seller of that home you love wants to be sure that you are qualified and can close before they accept your offer. And if you are competing with other buyers, presenting a pre-approval letter with your offer is especially critical.

Applying for your loan is simple. We already did all of the hard work—gathering information and sorting through loan options. Now you can just let us know which loan you want to pursue and we’ll get right to work. We’ll let you know the next steps required to secure pre-approval for your chosen loan.

Also worth noting!

Nothing on your application for pre-approval is binding or final. A pre-approval simply means we are willing to lend to you under the specified terms and conditions. You are not, however, obligated to take us up on this offer and you can request changes to any of the terms before you close.

The all-important budget

We want you to love your home. That’s pretty tough to do if you’re struggling to make ends meet because you spent beyond your means. So, please, make sure you set a budget and stick to it. And if you’d like a referral to a financial planner for some help with this end of things, just ask. We know some good ones.

On paper it’s okay to stretch

There, however, one (and only one) time we recommend going for broke—and that’s when you apply for pre-approval. Getting pre-approved is about covering your bases. It’s just numbers on paper, and not what you’ll really be borrowing. Unless you are worried about being tempted to overspend, we suggest getting pre-approved for the most expensive home you’d look at (even on a lark) and the least you would consider putting down. That way, we’ll be able to write a pre-approval letter, on a moment’s notice, to go with any offer you could possibly write, up to the limit for which you are pre-approved.

The Swiss Army is always prepared to make an offer. You don't want the Swiss Army to get the house you like, do you?
© copyright 2017 Julia Felsman. This website is not a solicitation for business. All information provided in website is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. There is no guarantee the quality, accuracy, completeness or timelines of the information on this website. While efforts are made to verify the information provided, the information should not be assumed to be error free. This website in no way represents the views of Guaranteed Rate, Inc.