Greetings friends, bare with me as I’m still learning the ways of this video blogging stuff. This Decatur, Illinois Real Estate blog post will be a hybrid. See moderately entertaining and short video below (beware man in video has caffeine in system). Okay, so on with the oh so juicy content…
Pre-Approval Letter – Just get it :
What’s a pre-approval letter you ask? This is a letter from your lender (bank, credit union, or mortgage broker) that simply states that you are indeed able to purchase a home. Often times there may be certain conditions within the letter, such as providing the bank additional documents or staying within the price range you can afford.
Why do you need it? You will need a pre-approval letter early on in the home buying process. Often times I recommend to my buying clients in Macon County to get pre-approved prior to even starting the search. It’s important because home Sellers will want to see a pre-approval letter prior to negotiating or even coming close to entertaining your purchase offer. If you have a pre-approval letter in hand, then you are good as gold to make an offer once you find that perfect home of your dreams. Worst of all if you don’t have a pre-approval and you’re lucky enough to find the home of your dreams, this home may slip through your hands just like grains of sand. Yep, you won’t even have a chance. Unless your financing the home using cash (in which case they’ll want to see a Proof of Funds Letter) not having a pre-approval letter can cost you.
How can you get a pre-approval? It’s a piece of cake! Here’s three easy ways to get a pre-approval letter…
- Visit HarrisonPeterson.com preferred lenders page
- Speak to your local bank/credit unions Mortgage Department
- Contact your Realtor (ahem Chris Harrison). My team is here to help with all matters concerning to real estate.
The good news is with the advancement of real estate technology and everyone’s busy lives, most lenders can now pre-approve you online.
Are you ready to start looking for a home? Fantastic! Let’s get you pre-approved and start looking in the Decatur, Mt. Zion, Forsyth, or surrounding Macon County areas. Let me help you Spring forward into a new home!
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