Real Estate

Why do you need a mortgage pre-approval?

Why do you need to get pre-approved for a mortgage before we start looking for a new home?  There are many reasons why, but first what is a pre-approval?  It simply means you have selected a lender, gave them your financial information and they determine if you can pay the mortgage and much home you can afford.  Why should you do this before we start looking for homes together in Tampa Bay?

  • You will know what price range to search in.  You don’t want to fall in love with a home that is out of your budget and go through the disappointment of not being able to afford it.
  • Pre-approval shows sellers you are serious about your home search.  Sellers are opening their homes to you, leaving for 2 hours at a time, packing up the children and pets, and making sure the home is squeaky clean.  They deserve to know you are seriously searching for a home.
  • Being pre-approved shows the seller you are qualified to purchase their home, making your offer stronger.  Your lender will provide you with a letter that I will submit to the sellers along with your offer to purchase.
  • A stronger offer will often win in a bidding war.  Today the Tampa Bay area strongly favors the seller.  A pre-approval will often be the thing that sets your offer apart from the others.

I can help you find a terrific lender if you need one, and then we can begin your home search!

Kelly Harden, REALTOR®

Shaw Realty Group




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