Starting your home search on the right foot means understanding what you can afford. The last thing you want is to fall in love with a home only to realize it’s beyond your budget.
That’s why we strongly recommend securing a Mortgage Pre-Approval before you begin house hunting. This document from a lender outlines how much they’re willing to loan you, offering two key benefits:
* Financial Confidence – You’ll know exactly what price range you can shop in, making your search more efficient and stress-free.
* Stronger Offers – Sellers take pre-approved buyers more seriously, giving you a competitive advantage when making an offer.
How to Get Pre-Approved
You can obtain a Mortgage Pre-Approval through your bank, credit union, or a trusted mortgage broker. If you’re not sure where to start, we have strong connections with reputable lenders and would be happy to provide recommendations—just reach out!
Understanding Your Buying Power
Lenders assess several factors when determining your mortgage eligibility, including:
* Income and existing expenses
* Credit history
* Employment status
* Down payment amount
While it may seem overwhelming, the process is typically straightforward, and approvals often happen within a day. With this information in hand, you can confidently search within your price range. For example, if you qualify for a $250,000 mortgage and have $100,000 saved for a down payment, you can explore homes up to $350,000.
Ready to Get Started?
If you have questions about financing or need lender recommendations, we’re here to help.