A Minute With Meta:Why You Need a Pre-approved Mortgage

If you're looking to buy a home, it's important to get pre-approved for a mortgage. A pre-approval from a mortgage professional will let you know exactly how much house you can afford. This will give you peace of mind about making an offer on a property and ensures your offer won’t fall apart due to unforeseen or unexpected financing issues. Pre-approval also helps sellers know that they can put their faith in their buyers' ability to get financing—which increases their confidence in accepting an offer on their home.

Get a clearer picture of your mortgage options

  • You can compare different mortgage options.

  • You can see how much house you can afford.

  • You can figure out how much you need to put down on a home, or what kind of mortgage would be best for your budget and future goals.

You'll have the confidence to make a stronger offer

You know what you can afford, which means that when you make an offer on a home, it'll be more likely to be accepted. You'll also know how much of a down payment you're going to need and how much each month's mortgage payments will be.

A pre-approved mortgage can save time

You may think that you could skip the pre-approval process and just get a mortgage when you’re ready to buy, but it will actually save you time in the long run.

The pre-approval process allows you to begin your search for a home without having to worry about whether or not the price will be out of reach. This means that you can focus on houses rather than worrying about how much they cost and whether or not they’re affordable with your current income.

If there are any issues with getting approved (such as when interest rates rise), then there’s no need to worry because of the pre-approval already being in place!

You have more negotiating power

A pre-approval gives you more negotiating power because it shows the seller that you are serious about buying the house. This can help you get a better price, or lower closing costs, or even a later closing date.

Pre-approved mortgages help you get in a new home faster

A pre-approved mortgage is a stamp of approval from your lender that you're able to afford the home you want to buy. It means that if you find a home in your price range, you can move quickly, negotiate for what's important to you and avoid wasting time on homes that aren't a good fit.


There are many benefits to getting pre-approved for a mortgage. Getting approved for a mortgage before you start looking at houses is the first step in the home buying process.



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