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Why Pre-Approval Is Key for Homebuyers in 2022

Why Pre-Approval Is Key for Homebuyers in 2022 | MyKCM

Being intentional and competitive are musts when buying a home this year. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.

“By having a pre-approval letter from your lender, you’re telling the seller that you’re a serious buyer, and you’ve been pre-approved for a mortgage by your lender for a specific dollar amount. In a true bidding war, your offer will likely get dropped if you don’t already have one.”

Bottom Line

In a competitive market with low inventory, a pre-approval letter from a local lender is a game-changing piece of the homebuying process. Not only does being pre-approved bring clarity to your homebuying budget, but it shows sellers how serious you are about purchasing a home. Not sure where to start or who to reach out to, let me get you in touch with some of the best lenders in the business who will take the time to understand your unique situation and personal goals.

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