A lot of buyers are frustrated by the fact that we need to get a pre-approval before we start the house hunt. Let me explain, this is like test driving a 2019 Lamborghini and then realizing you need to take an UBER for the next 6 months to save cash. You want to know what you are working with and what price point is not only comfortable to you but also a lender. A lender is going to evaluate your total income and all your existing re-occurring debt then come up with a debt to income ratio. Lenders want to see that once you acquire your new home that you will still be able to pay all your existing expenses and re-pay their money without a struggle. If you do not get a pre-approval upfront you are shooting arrows it the dark ; you will not know what price ranges to look in. In addition, many sellers only want pre-approved buyers in their homes to cut down on excessive traffic and scheduling showings. Most importantly, when we find your dream home the seller will want a copy of your pre-approval to take your offer seriously. In this market, it is possible they will be considering multiple offers and you want to be present a solid offer with proof you have the means to get to the closing table. The pre-approval process is quick and painless and a necessary 1st step in the home buying process.
~Amber

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