Identify your Price Range and Strengthen Your Bargaining Power
"How do I know what price range to look in?" and "How do I make sure my offer is accepted?" These are two of the most commonly asked questions from first-time and experienced homebuyers alike. One of the best places to start is by getting pre-approved by a lender upfront. Pre-approval gives you, and your Real Estate Agent, peace of mind in knowing your price range. It also strengthens your position at the negotiating table, especially in a multiple offer situation.

Sellers will also often require a letter of pre-approval before they accept an offer, because accepting an offer means they are taking their home off the market to put it under contract. Signing a purchase offer with an unqualified buyer could result in a loss of weeks or even a month or more if the buyer fails to secure financing. If a home seller has to turn away other buyers during this time they have lost not only time and interest, but they have also lost out on other potential buyers. Therefore, it is definitely in the best interests of the seller to only consider offers accompanied by pre-approval letters.

Metropolitan Mortgage Corporation makes pre-approval fast and easy. We can quickly get you on your way to purchasing a home when you complete our simple pre-approval form.