To get pre-approved for a mortgage loan, you complete the lender’s questionnaire, provide the necessary documentation, a lender reviews all the details, and determine that you’re pre-approved for a loan of a certain dollar amount.
This is a huge step in the home buying process. If you have received your pre-approval letter, congratulations!
Many people think this is their golden ticket to homeownership. However, it’s more of an admission ticket that gets you into the game.
You are now ready to start house hunting with the intention of buying.
But what exactly do you do with that pre-approval letter?
Most sellers won’t even look at your offer if you’re not pre-approved for a mortgage. This makes your pre-approval one of the most valuable parts of your entire offer.
The one thing you need to do is give your pre-approval letter to your real estate agent and make sure they include it when you submit an offer on a home.
