Mortgage Pre-qualification Reasons

* Obtaining a pre-qualification letter from a Lender will inform you the maximum dollar amount of a home you should purchase.

* You will know what is on your credit report since the Bank will pull a credit report. If there is an issue that you need to clear up first prior to purchasing, you will be aware of it and can get started on it.

* Seller's will feel more confident showing you their home after your Realtor shares that you have been pre-qualified within the specific price range of their home.

* When you decide to write a purchase offer and the Seller's requests (which they often do) a copy of the pre-qualification letter, your Realtor can provide the Seller with your pre-qualification letter from the Bank. This will strengthen your purchase offer.

* When two Buyers write a purchase offer on the same home, the Seller's may look at your offer as being a more solid offer knowing that you have been pre-qualified by the Bank. This in turn would work in your best interest if the other Buyer has not been pre-qualified.

* Being pre-qualified may give your Agent better negotiating power when it is time to write an offer.

* Confidence that you know what the Bank will give you for a mortgage loan and this will make you feel more comfortable before previewing homes.

* Your Broker will feel confident to proceed with your "house hunting" plans knowing that the Bank has pre-qualified you.

* All information is considered to be accurate; but not deemed to be guaranteed.