Getting pre-approved for a loan with a lender is one of the most important first steps into the home buying process.

Getting pre-approved for a home loan is not as bad as it seems.  It takes little time and will give you an idea of your budget when house hunting.  Many lenders offer an online questionnaire you can fill out giving basic information like debt, income and assets.  Also, buy getting pre-approved your lender will be able to tell you about different home loans available for you.  There are several state and government programs that many consumers don’t know about.

Once you are pre-approved you are able to now start the house hunting process.  The letter will give you an idea of your budget for the purchase of your home.  You can start to narrow down your areas that fit within your budget.

Once you have found your property, the next step can go one of two ways.  This is the most important reason to get pre-approved!!!  Many Realtors and Sellers are less willing to accept an offer without a pre-approval or pre-qualification letter.  This is very vital to have especially in a competitive market.  By having a pre-approval letter, it shows the Realtor and Seller that you are serious about purchasing the home and have already started the process of obtaining a mortgage.