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Pre-approval. It's the first step every homeowner should take before shopping for a new home. Our real estate agents recommend starting with this step because it helps narrow your search to homes within your price range. It also gives your offer added weight when you find the home you want to purchase. Whether you have excellent credit or a significant down-payment, getting pre-approved for a mortgage is a step you don't want to skip.
We are in a low inventory market, which means that sellers receive multiple offers for their homes. Many times the offers are above the listing price. As sellers consider their options, the knowledge you're serious about and can close the deal gives you an advantage. It also helps you know how high you can go if a bidding war erupts.
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