Jeff Green
Broker CalBRE Lic#01519105
Call/Text: 209-495-2200

Should You Get Pre-Approved For A Loan First?


Most mortgage lenders  take the guess work out of applying for a loan by determining the amount you can afford to borrow and providing you with a pre-approval letter.

Mortgage pre-approval establishes your price range and strengthens your buying position by letting the seller know that you have already been pre-approved for the loan. It can also ease time constraints once you and a seller sign a purchase agreement.  Most sellers will not seriously consider an offer unless it is accompanied by a pre-approval letter. Conversely, if you submit a pre-approval letter with your offer, it will give you an edge over other buyers that failed to do so.

Obtaining a pre-approval will keep you from wasting time looking at houses you cannot afford. 

Pre-approvals are easy to obtain.  Some mortgage lenders will obtain your financial information over the phone.  Others may require documentation.  Either way, it is to your advantage to obtain one before you go shopping for a home.