Speeding Up the Home Buying Process
By obtaining a pre-approval, you can significantly speed up the process of securing a mortgage loan. When you get pre-approved for a loan, you have a lender review your income and credit information in advance and then provide a written statement that shows how much you would be eligible to borrow.
The pre-approval process only takes about 24 to 48 hours, assuming that you have the appropriate proof of income and other required documents readily available.
There are many benefits obtaining a mortgage pre-approval, including the following:
- Boosted credibility with the seller: The seller will see that you can truly afford the property and that you are serious about making the purchase.
- Greater flexibility for taking action: With your finances already evaluated, you are able to take immediate action when you find the home you want to purchase. By getting pre-approved, you already have the ball rolling.
- An advantage over other buyers: If you are up against other prospective home buyers who have not been prequalified for a loan, then your pre-approval may just what you need to gain the upper hand.
Are you ready to get the pre-approval process started? If so, call us today at +1 647 332 4846 so we can walk you through each step from start to finish. We offer free evaluations!