Do you really need a pre-approval letter before you start to look at properties?
The short answer is YES.
Shopping for a home may be exciting and fun, but serious homebuyers need to start the process in a lender's office, not at an open house. Most realtors expect that a purchaser is qualified before they begin the process of viewing properties and sellers are more willing to negotiate with those who prove that they can obtain financing.
Potential buyers need five essential things: proof of assets and income, good credit, employment verification, and other banks/broker required documentation to be pre-approved for a mortgage.
There are many benefits to having a pre-approval before you start your house hunt, knowing your budget help to narrow down your property search and keeps you in good financial health, it locks you into great mortgage interest rates that won't fluctuate even if you take your time to purchase and when you see your dream home you can act on it quickly, which is essential in a hot market!
If you are in the market for a new property or are looking for a recommendation to a local Fort St John mortgage specialist to secure your pre-approval with, let's connect! I am more than happy to answer any questions that you may have. Let's make your real estate goals into reality.