It's something every buyer should do.
YOU’LL KNOW WHAT YOU CAN AFFORD.
Getting preapproved before you shop is imperative. As it allows you to shop within the price range.
IT GIVES YOU NEGOTIATING POWER.
Having a preapproval always puts you ahead of a buyer who doesn’t. This is a game-changer when you’re with a bidding war with others.
IT MAKES YOUR OFFER MORE RELEVANT.
When the seller knows that your information has been reviewed by a mortgage underwriter, it makes everyone involved more confident -- and gives your offer more significance.
IT WILL HELP YOU SAVE, NOT SPEND.
When you’re in the market for a new home, it’s easy to get caught up in the excitement of making purchases. Having the details of your new home’s interest rate, closing costs and down payment will help you curb your urge to buy outside your budget.
YOU’LL GET THE KEYS FASTER.
Getting preapproved upfront makes everything else move quicker. You’ll close faster, which means you’ll move in faster.