Get Your Pre-Approval For Your Home Loan Today

By: Homeloans  11-11-2011
Keywords: loan

What is a pre-approval certificate?

Why do you need to be pre-approved?

A pre-approval certificate can be worth a fortune for home buyers. Most real estate experts will advise home buyers (especially first-time buyers) to apply for a loan before shopping for a home. By getting a pre-approval for a home loan you will speed up the buying process and with a pre-approval certificate in the hand, agents and sellers will take you seriously when knowing that you are financially secured. The pre approval gives a guarantee to the seller by ensuring you a good standing in the market as a honest buyer with credibility.

Advantages of pre-approvals include the following:

  • Saving you time
    Today, time is money. A pre-approval can save you a lot of time in many different ways. You will not waste your time by looking at homes you can’t afford. 
  • Narrowing Down your Home Search
    It makes your task of house hunting easier and faster by eliminating houses bigger than your budget. The time you save can rather be spend on checking the details of the houses that you can actually afford. 
  • Quicker Loan Disbursal or Processing Period
    Buyers with a pre-approval will have the benefit of a faster loan processing period, again saving you some valuable time. The lender can expedite the processing procedure of your loan application without a window period and immediate instructions for appraisal, smoothing down the home purchase process.

Loan approval is generally the longest contingency to fulfill in the home buying process, therefor a pre-approval certificate is advisable. The certificate will give you the confidence you will need for negotiations with the seller as well as the real estate agents. 

Keywords: loan

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