What is a pre-approval letter and do I need one to begin house hunting?
When you begin your home search, you need to know just how much home you can afford. The best way to do this is to speak with your local Mortgage Consultant who can issue you a pre-approval letter. A pre-approval letter is based on a verification of your income, credit, and assets. This letter provides proof to real estate agents and sellers that you are approved up to a set amount for a mortgage loan. In addition, this letter lets sellers know you are committed to the process of buying a home which can give you an edge over other buyers. Obtaining a pre-approval letter is quick and easy and is a service provided to you at no cost.
