Congratulations you have decided to buy a house. You have attended a few open houses and you have been spending a lot of time online looking at houses. You feel ready. When you see the right house you are ready to jump in and have the agent do what it takes to get you that house. However, are you actually ready? There is a key step that is missing in the process. You must turn in a mortgage application with a lender and been pre-approved for a loan. Why Get Pre-Approved? Can it wait until I get an offer accepted? The answer is…no. Lets talk about why it is important to get pre-approved.
Here Are A Few Reasons
1. You know what you can afford. If you are looking at $500,000 homes and you talk to a lender and can only get pre-approved to $475,000 that would be a problem. Additionally,iIf you would have gotten your offer accepted you could not have closed on the home.
2. You know what it will cost to get a loan and how much you will need for down payment.
3. You will know if you have good credit. Additionally, you will also learn if you would benefit from credit repair.
4. You need to know what your future payments are going to be.
Get Pre Approved So You Can Sleep In It

5. This is probably the most important. You will be able to have a lender letter go with any offer that you write on a home. Many agents and sellers require a lender letter. This is important because without this your offer isn’t acceptable. It means that you won’t be able to purchase the home of your dreams.
6. Getting pre-approved will shorten your under contract period and the length of time that you need to wait to buy your home.
7. You will save yourself time! Moreover, you may be having fun looking at all of those houses, but wouldn’t it be nice to narrow your search and be looking at what you might be able to have?
So that answers the question of why get pre-approved.
However, who do I call when I am ready? I recommend Dave Armstrong with Elevations Credit Union. I recommend him because he and Elevations often charge the lowest interest rates and fees to get you into a house. Additionally, when you start the process you want to know that when you go under contract that you will get to the closing successfully. With Dave you have the best chance of that happening. You can reach Dave Directly at 970-388-3903 or dave.armstrong@elelvationscu.com. If you have any questions you can always contact us and we would be happy to point you in the right direction.