While juggling my responsibilities as a mom and realtor, I like to ensure that I answer all queries that come my way. One common question I get is, "Angela, is it really necessary to get a pre-approval before I put in an offer?"

The answer to this, in short, is YES! A pre-approval letter can make all the difference in the home buying process. But first, let’s tackle the "what" and "why" of it all.

A pre-approval letter is issued by lenders, affirming that they're ready to lend a specific amount of money to you based on an initial review of your credit and financial information. This letter doesn't ensure the final approval for your mortgage, however, it does give you and the sellers a pretty clear idea about your buying power.

So, why is this letter so crucial? Here are the main reasons:

1. **Setting your budget:** The pre-approval letter gives you a better understanding of how much you can afford. It sets the maximum limit of your home budget, allowing you to browse homes within that range without the heartbreak of finding the perfect house only to discover it's outside of your financial capacity.

2. **Shows your seriousness:** Sellers often check to see if a potential buyer has been pre-approved. This proves to them that this buyer is serious and has the financial capability to follow through with the sale.

3. **Gives you a competitive edge:** In a hot real estate market, standing out amongst other buyers can be challenging. A pre-approval letter can give you that added edge, tipping the scales in your favor when it comes to negotiating or in a scenario where multiple offers have been made on a property.

4. **Speeds up the process:** Having a pre-approval can expedite the whole purchase process since part of your financial evaluation has already been done. This means fewer delays and quicker closings.

Buying a home is an exciting and equally daunting task. That's why I am here to guide and assist you throughout this process. Remember getting pre-approved is not a headache, but a stepping stone to your dream home! I'd love to help you navigate these steps, so feel free to call or email me anytime.

Happy Home Hunting!

Angela Benight | 501.231.7775 - cell | 501.259.8437 - office | Angelakbreality@gmail.com | Venture Realty Group 

Remember, "Dream big, believe big, and the results will be big!"