When buying a house many consumers are confused by where they should start. Should they begin by going to a Realtor or should they begin by going to a mortgage professional or mortgage broker? When buying a home it is usually better off to start with a mortgage professional or mortgage broker to get pre-approved first. This not only shows people that you are a serious buyer and you have the buying power to buy now, but it also gives you an idea as to how much of a home you are approved to buy so that you know what price range you should begin looking in.

Your mortgage broker will issue you a pre approval letter that will state maximum loan amount and down payment required. Your Realtor can use this letter to narrow down the search for properties that fit into this price range. They will also present this letter to the listing agent when writing the offer to purchase. A pre approval letter makes an offer to purchase much stronger the an offer without a pre approval letter.

 

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