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Why You Should Get Pre Approved Before Ever Seeing A Home


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You’re an adult. You have a job. You pay your bills. What’s next? You’re ready to be a homeowner.

We have all done it – downloaded that home search app, browsed home after home, saving your favorites. You then find what you believe could be “the one”, so you call to schedule a time to go see it with a realtor, right? Not quite. While it can be extremely tempting to jump up and see a home the minute you find it online, there is one crucial step you really need to take first – talk to a lender about getting a pre-approval. While there are many agents out there that will show you a home without one, and, yes, it’s tempting to “just go see it first”, it truly is not the best option. Here is why.

  • A preapproval letter could be required – Some homes are actually listed by a bank, not by a person. And when that happens, most banks require you to provide a copy of the pre-approval to the listing agent before seeing the home.
  • They go fast – No matter the current market condition, there will always be certain homes that do not stay on the market very long. The last thing you will want is to schedule a time to see a house, find out you need the pre-approval, and the home already has an accepted offer by the time you get everything in order. Save yourself the disappointment and get the pre-approval before even looking at homes.
  • Certain loans don’t work – One of the jobs of the lender is to find out what type of loan you can even be approved for. This is important because some homes can only be financed with certain loans. For example, if a home will not allow FHA financing, but that is the type of loan you are pre-approved with, then there is no point in wasting your time looking at that particular house.

Like most things in life, being prepared is going to make the process much smoother and allow for less disappointment in the end. Getting a reputable lender to find out exactly what you can afford is the route to go.

Do you think you are ready to buy a home? Let us connect you with a TIPS-approved lender at RUOFF Mortgage!


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