Do You Know the Importance of Becoming Preapproved?

Do You Know the Importance of Becoming Preapproved?

Thanks again for joining me! I wanted to introduce my partner, Anita Karmo, who is my buyer’s agent. Anita helps me with all of our buyers who are looking to purchase homes. I thought it would be fitting to talk about purchasing power with getting preapproved and what the best option is for buying a home. Anita says the first thing a potential buyer must do is figure out what type of loan you can get. This can be among FHA, VA or conventional mortgages. When your spending thousands of dollars on a property, you want to know what loan program is best is going to work for you and fit into your financial budget.

Be aware of your closing costs as well! In most cases, if you have an agent like us, we can negotiate a lot of those fees to be paid by the seller. Anita also stresses that this step helps to know what your purchasing power is to avoid becoming house poor. This means owning your home and also having a life without being buried in household expenses and monthly payments. Your preapproval not only helps budgeting, but also makes for a stronger offer. Sellers treat this like having cash in hand! We have many great lenders that have pleased many of our clients and we would be happy to set a meeting with them for you.

If you’re in the market for a home or would like further education on the process of buying a home, we’re always here for you! Our goal is to make you an informed buyer to allow you and your family to make the best decision in buying your next home. Thanks and make it a great day!