Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

  You may have heard that pre-approval is a great  first step  in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this. According to a recent  survey  from  realtor.com,  many buyers are making the mistake of skipping the pre-approval step in the homebuying process: “Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months,  only 52% obtained a pre-approval letter before beginning their home search , which means nearly half of home buyers are  missing this crucial piece of paperwork. ” This paperwork (the pre-approval letter) shows sellers you’re a qualified buye...

    Some Highlights Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant. Reach out to a real estate professional to determine the best way to position your family for a financially-savvy move in today’s market.