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I've long been an advocate of people being pre-approved for a mortgage.
The pre-approval process
when you work with me really involves two things. The first
is to figure out how much you qualify for, and in the process we'll learn
what your credit score is and we'll look at your income and the assets you have
available for down payment so we can match you with the best program that you
can qualify for. But the other piece of the pre-approval that I've always liked
to look at is to ask you when you sit down and think about how much you would
be willing to write on a check each month for a mortgage to think about what that
number is so
we can think about what payment
you'll be making once you buy your new home.
It's never been more important than it is right now to get pre-approved for a
the inventory for good properties in areas where people want to live are
lower than they've ever been and were at a point where there have been multiple
bids for properties and borrowers who are not pre-approved
lose out to borrowers who are who are able to demonstrate to sellers that
they're the best buyer.