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Step3 Get Pre-Approved for a Mortgage |
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Written by Tamara Schmitt
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Thursday, 24 November 2005 |
Do you know how much house you can afford? Probably not, unless you've talked with a broker/lender.
Pre-approval helps you in other ways. Consider this scenario.
A home seller gets two similar offers. One is accompanied by a letter from the buyer's bank that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first? |
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Last Updated ( Wednesday, 23 August 2006 )
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