Benefits of getting Pre-Approved
There are so many different reasons to be pre-approved for a mortgage with the main reason being that you will know exactly how much you can afford to spend on your new home. Too many individuals shop for a home, find the home of dreams, and then learn that they cannot be approved for the home as the cost is out of their grasp. With a pre-approval or pre-qualified letter, you will have a maximum money amount that the bank will give you to buy a home. This certainly helps with embarrassing moments when you are turned down for your dream home.
Getting Pre-approved will also save you time. Now, that you know your limit, your realtor will be able to find homes in your price range that meet your criteria. This will save you and your real estate agents all kinds of time and he/she will be able to find more homes faster than before. It can very difficult for the real estate agent when he/she is not sure of what you are looking for in the way of price; several homes more than likely fit your needs but may be way below or quite a bit, over what you can afford.
With a pre-approval, you will have more influence so to speak as well. Now, when you are ready to negotiate on a home, you have a pre-approval letter, which states this bank, or lending company will provide you with X amount of money on a mortgage loan. Those selling their home will take you seriously, as you have proved that you are a buyer and not just shopping.
Apply Online For A Tulsa Home Loan
Like any thing else, it pays to shop around. Our Agents at RE/MAX Life REALTORS® have worked with lenders in the Tulsa Oklahoma region for years and have developed relationships with lenders that will be competitive on mortgage rates to get YOUR business.
You can start the process today and apply for your Tulsa real estate loan online using our pre-qualification application. Please enter the following information to get started.