If you are in the market to buy a home, getting pre-approved for a mortgage is a good idea. Not only will this help you determine how much money you can spend on a house, but it will also help convince sellers that your offer is serious. In fact, there are some sellers who will not accept an offer unless it comes with a pre-approval letter from a well-known lender.
Once you have your financing in place, it will be time to become serious about finding a new home. The next important step that you must take is to select an experienced realtor. I have been working in real estate for over 25 years, and our team of realtors has sold over 6,600 homes in the Mississauga area.
When you are ready to place an offer, your mortgage pre-approval letter can make the entire process go more smoothly. In addition to letting the seller know that you are serious, the letter can also place your offer ahead of others that are comparable. After all, the process of closing on a home can be long and tedious, especially for a seller who needs to move quickly. Therefore, if the seller has to choose between accepting two similar offers and yours is the only one that comes with a mortgage pre-approval letter, the odds are high that you will be the one who ends up signing on the dotted line.
If you are uncertain about which lender you should approach for a mortgage, we at team McDadi can offer you some suggestions. Team McDadi can also help you begin searching for a home while you are still filling out mortgage pre-approval forms, to help you reduce the total time involved in finding your new home. As soon as you receive pre-approval, you will be in a solid position to make an offer on your preferred house, and motivated sellers will be much more inclined to accept your offer.
For more information, please contact me at 905-502-1500, or visit my website, www.mcdadi.com.