Talk to a lender and get pre-approved
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In a hot market when houses are selling like crazy and you get multiple offers, it is best to have a pre-approval letter from the lender of your choice if you are serious about buying a house.
When you see the house you love you have to be ready to make decisions on the spot and submit an offer right away, otherwise you miss the opportunity. A pre-approval letter shows a seller that you have done your homework and you are really serious about buying a home.
In today’s environment of endless and countless bank regulations, it is of great value to have your financial “ducks” in a row ahead of any offers. Most importantly, a savvy seller will want to know if you can actually afford to buy their house, no point in them talking to a non-qualified buyer.
Having a pre-approved letter makes you golden. It is a win-win for buyer and seller. It gives you an opportunity to review your finances and double check you are ok with the financial decision, plus it gives the seller a good understanding of your financial qualifications and helps them decide between accepting your offer or others that may be on the table.
Your first step in buying a home in Alexandria is to speak with a lender. I can recommend several, but pick one you’re comfortable with.
Watch the following video for More information about Mortgage Lending 101
Mortgage lending 101
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