Before you set out on your search for a new home in Atlanta, we strongly recommend that you get pre-approved for your home mortgage loan. A pre-approval can help you determine how to best maximize your home-buying budget, and in today’s fast moving Atlanta real estate market, will also allow you to make a confident and competitive offer on a home that you love.
It’s a good idea to contact a lender early – and our team is here to help you in that process. A pre-approval will give you a general idea of the amount of mortgage you qualify for and will save you time because you will know your budget before you even begin searching for your new Atlanta home. We at the Charlie Ballard Real Estate team are partnered with reputable lenders who can quickly complete the pre-approval process without any fees or obligations from you.
In order to complete the pre-approval process, a lender will ask you questions about your income and monthly debts so that they can work up a ballpark figure on the most you will be able to borrow. Keep in mind that at this point, the lender is not guaranteeing you a loan – once you find the home that you want to purchase, you will begin the full application and underwriting process.
Having a lender’s pre-approval letter in hand before you begin your search for homes can be valuable in several ways:
- Your house-hunting process will be more efficient.
- You will know ahead of time exactly how much you can spend.
- You will gain negotiating power.
- You can shop for homes with the confidence that you can afford your purchase.
- You can close on your dream home quickly.
Most of all, obtaining a mortgage pre-approval in advance allows you to search for homes without being under pressure. You won’t waste time considering homes you can’t afford, and you will know in advance what your payments will be when you finally do find the home you love.
Our team is here to help you every step of the way during your buying journey, from beginning to end. Let us know how we can best assist you.