If you are looking to buy a home, then you should consider getting preapproved before you even begin your search. There are some benefits of getting preapproved as well as drawbacks for failing to do so.
Benefit of Getting Preapproved
Having a preapproval letter attached to your offer can go a long way to ensure you get top consideration from the seller. This is because some major concerns of the seller are lifted – you are able to pay for the home and you know what the monthly payments will be, so you have all of the financial information you should need to make an offer.
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Monday, April 4, 2016
Should I Get Preapproved Before Looking at Homes
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