Pre-Approval Power Puts YOU in Control!

Posted on Jan 26, 2017 in Mortgage

mortgage
Yes – The rumors are true. Obtaining a pre-approval letter prior to shopping for a home is a major advantage. It can be a competitive market in San Diego, and getting pre-approved gives you buying power and can put you in control of the process.

How? Here are 6 reasons why a pre-approval is so powerful for a home purchase:

Buying Power #1: You Get an Expert on Your Side

By working with me at the beginning of your home buying process, you’ll have an advocate working for you. Don’t be afraid to ask plenty of questions about every step before and after the pre-approval. I’ll help make sure you meet any special loan requirements and give you a head’s up when you look at a home that might be questionable.

Buying Power #2: Your Budget is Set

Imagine that you’re looking at houses and you fall in love with one. Then after negotiating the offer you find out you don’t qualify. It’s heart breaking. When house hunting with pre-approval letter in hand, you will know your budget and you can then search for homes within that price range. No wasted time. No disappointments.

Buying Power #3: You Will Reassure Sellers

Sellers want buyers who are serious and can close deals. Buyers without a pre-approval letter can be a risk for any seller. A seller is more likely to accept your offer before others because they know your offer is close to a sure thing. This is a big advantage in our competitive market when there are a number of buyers bidding on the best properties. A pre-approval can move your offer to the top of the list.

Buying Power #4: You Can Negotiate

When you have a pre-approval letter, it gives you and your agent a lot more clout when it comes to negotiating with the seller, vastly improving the odds of you getting the house you want.

Buying Power #5: A Real Estate Agent Will Work Harder for You

A Realtor earns their fee when a home sells. If the deal doesn’t close, there is no commission. A good agent will go above and beyond for a well-qualified buyer that is a pre-approved. Since you already have a relationship established with VIP Mortgage, I can work closely with your agent to ensure that the homes you look at will pass any specific loan eligibility requirements for the property or San Diego.

Buying Power #6: Your Closing Is Smoother

The pre-approval process involves pulling together all of the income documentation, credit reports and any other information needed to establish how much you should be able to borrow at the start of the process. This may also save time at closing because we have started the paperwork process and may only need a few more things from you at the end to finalize things.

Now that you have a better understanding of the advantages and power a pre-approval gives you, call me at 619-577-4030 or email me at matt.chao@vipmtginc.com to get the process started. I look forward to working with you and putting the buying power in your hands!

This information is provided by a third party, Pixona, for educational purposes only and does not reflect the opinions of V.I.P. Mortgage, Inc. Information is deemed reliable but not guaranteed. Any material is not intended as a prequalification, commitment to lend, a reason to enter into a purchase contract, hire a real estate professional, or take any action whatsoever. Always consult your financial planner before making any financial decisions.

Contact Matt Chao

Questions?

Payment Calculator
$
 
VIP Mortgage Awards

NMLS#1428557 CA-DBO1428557 l GA 51913 / State Licensing NMLS Consumer Access Privacy/Security

© 2017V.I.P. Mortgage, Inc. does Business in Accordance with Federal Fair Lending Laws. NMLS ID 145502. AZ: Mortgage Banker License No. BK-0909074. CA: BRE Real Estate Corporation License Endorsement 01866775 | DBO Residential Mortgage Lending Act License 4131324 D.B.A. V.I.P. Independent Mortgage, Inc. | 41DBO-58745. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. CO: Mortgage Company Registration 145502. Regulated by the CO Division of Real Estate. FL: Mortgage Lender License MLD1399; MLDB4970. HI: Mortgage Loan Originator Company License HI-145502. IL: Illinois Residential Mortgage Licensee MB.6760990. IN: DFI First Lien Mortgage Lending License 21573; DFI Subordinate Lien Mortgage Lending License 21574. MI: First Mortgage Broker/Lender License FL0017723; Second Mortgage Broker/Lender Registrant License SR0017724. MN: Residential Mortgage Originator License MN-MO-145502, Minnesota Residential Servicer License MN-MS-145502. NC: North Carolina Mortgage Lender License State License #: L-170588. NE: Mortgage Banker License 2032 | Banker License 1081833. NM: MLC 397200 | MLC 3769 | MLC 834012 | MLC 1081833 | MLC 336964. OR: ML-5444-3 | ML-5444-2 | ML-5444-1 | ML-5444. TX: SML Mortgage Banker Registration. N.A. D.B.A. V.I.P. Independent Mortgage, Inc. UT: DRE Mortgage Entity License No: MLCO-7233522 | DRE-8993850. WA: Master Business License No. 602 774 478, Consumer Loan Company License No. CL-145502 | CL-172492 | CL-336964 | CL-1252401 | CL-1355178. WI: Mortgage Banker License No. 145502BA | 172492BA , WI- Mortgage Broker License No. 145502BR | 172492BA. V.I.P. Mortgage, Inc. does Business in Accordance With Federal Fair Lending Laws. V.I.P. Mortgage Inc. is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. V.I.P. Mortgage Inc. is approved to participate in FHA programs but the products and services performed by V.I.P. Mortgage Inc. are not coming directly from HUD or FHA.