Consider these tips when getting a pre-approval letter.
Today I want to talk about the first step you should take in the home-buying process. Before you start searching for a home, you need to consult with a lender and get a pre-approval letter. In the current market, most sellers are going to require this pre-approval letter before you even get an appointment. However, don’t think you need to take the first lender you talk with.
You can shop around for the right lender and the most competitive rates right up until you sign a contract. Keep in mind that interest rates aren’t the only thing to consider when looking at lenders. You’ll need to be sure that their mortgage process is efficient and their underwriting time is short.
A common concern buyers have about talking to multiple lenders is that this can somehow negatively impact your credit score. In my experience, this is not the case. Talking to multiple lenders will not impact your credit profile in any meaningful way.
For more information about getting a pre-approval letter or any other real estate needs, contact me. I look forward to hearing from you soon.
