Whether or not you have ever purchased a home in the past, you should know that the real estate market is a very competitive place. That means you need a way to stand apart from the other home buyers who are all vying for the same homes for sale. To make sure that home sellers are most interested in your offer, you need a reason for them to choose you instead of other home buyers.
When all other factors are equal amongst you and various home buyers, the home sellers will need to have a distinguishing point in order to make a decision. A great way to get this competitive edge is obtaining mortgage pre-approval in Phoenix. This could be the reason a seller chooses your offer over other home buyers.
What Is Mortgage Pre-Approval?
Mortgage pre-approval is a critical part of the home buying process in Phoenix because it is an essential way to get the upper hand in negotiations, should a bidding war begin. You will start from a position of strength with the home sellers when you have obtained pre-approval.
Basically, mortgage pre-approval means that a financial institution has certified you to borrow a specific amount of money for a home loan. With this approval, you’ll get a Certificate of Financing Approval. You can present this to the home seller to convince them that your offer is more attractive than others.
Most of the time, mortgage pre-approval in Phoenix is the tipping point for home buyers in the real estate process. Our experienced realtors at Your Home Sold Guaranteed Realty AZ will happily explain the benefits of mortgage pre-approval in detail and help you obtain it.
Advantages of Mortgage Pre-Approval for Home Buyers in Phoenix
You will soon find out that the real estate market is highly competitive, and it is an unfortunately common occurrence that home buyers are outbid by another buyer. Even with equal factors, the smallest advantage could tip the scales in one direction or another. You would hate to find yourself in the position where you love a home already but another buyer snatches it away.
To make sure this doesn’t happen, you need an advantage. As a way to ensure that your offer is the most attractive, mortgage pre-approval in Phoenix could be the deciding factor. If it comes down to your offer and one from a home buyer who only has Conditional Financing, your mortgage pre-approval could be the reason the home seller chooses your offer. The pre-approval guarantees a fast closing process with no potential delays from financing, and that is what home sellers are looking for.
If you can make the process simpler and less stressful, that is certainly worth whatever offer you are making for the house. When a home buyer needs more time to secure financing and may have other hiccups, a home seller is less likely to choose to deal with that person when there are other offers (with secured financing) available.
Simplify Buying a House with Mortgage Pre-Approval in Phoenix
Before you ever even start looking for a new home, our team suggests that you obtain mortgage pre-approval. Beginning as soon as possible will set you up for success in the process, and no one wants to be delayed by Conditional Financing when you have already found your dream home. Don’t let that perfect house slip through your fingers!
Getting the mortgage pre-approval will also make sure you know your interest rate before you start house hunting (that will contribute to your monthly payments) as well as your points and closing costs. Don’t let time constraints or other issues get in the way of buying your new dream home!
Find Out How to Get Mortgage Pre-Approval Today
Are you ready to buy a home and need more information about mortgage pre-approval and its benefits? Our team of experienced realtors can guide you through the entire home buying process with our skills, expertise, and resources. This includes helping you get the mortgage pre-approval you need.
Our realtors are happy to make sure you have the opportunity to get mortgage pre-approval in Phoenix. When you fill out the form on this page, it will get forwarded to a certified mortgage professional through our system. Shortly after, we make sure you get the best possible mortgage rate and closing closes.
Feel free to give us a call at Your Home Sold Guaranteed Realty AZ to find out all you can about the home buying experience and obtaining mortgage pre-approval in Phoenix! You can also visit our office in Sun City.