Why Is It so Important to Be Pre-Approved in the Homebuying Process?
You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? States Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.