The Benefits of Mortgage Pre-Approval

If you’re like most people who are thinking about buying their first home, you’re probably wondering where to begin.

As with many things in life, you can save a lot of trouble if you start with the financing. Sure, it’s not as exciting as looking at houses for sale, but it can get you into your new home much more quickly.

The Benefits of Mortgage Preapproval - Smart Title and Escrow Tennessee

The first step: mortgage pre-approval.

Pre-approval Speeds up the Process

Having a mortgage pre-approval in-hand before you start shopping for a new home gives you a good head start on the home buying process.

For one thing, it gives you a clear, set budget. There may be factors that lenders consider that you have not, and having a preapproval lets you know exactly how much house you can afford.

It may take several weeks to get approval once you apply for a home loan, so having preapproval can speed things up considerably.

Additionally, the pre-approval process may uncover financing options you didn’t know you had. There are many types of mortgages available, and analyzing the preapproval process may show that one type of mortgage offers you clear advantages over another.

Armed with this knowledge, you’re several steps closer having your offer accepted when you find the new home of your dreams.

Pre-Approval Shows Sellers You’re Serious

Many sellers receive multiple offers on their homes, so it’s a good idea to have your pre-approval ready to go when you find something you want. That way, sellers know that you’re serious—and they’ll be able to give your offer much more serious consideration.

Part of the Home-Buying Process Includes Title Insurance and Escrow

Working with a knowledgeable, experienced title insurance agent can help smooth out the entire home-buying process.

That’s where Smart Title & Escrow comes in.

We’re known throughout Tennessee for our professionalism and expertise, and we’d love to help you. Call us at 615-393-6222 or get in touch with us online. We’ll be happy to answer your questions about title insurance, explain the closing process for buyers (or for sellers, if you’re interested), and show you how title insurance protects your investment for the entire time you own your home.

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By | 2016-12-27T18:10:12+00:00 May 26th, 2016|Categories: Real Estate Tips|Tags: , , , |0 Comments

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