Now is the time to set the appointment with your mortgage loan officer to sit down and get a mortgage pre-approval letter. First of all, Why do you need a mortgage pre-approval letter? No listing agent will even take your purchase offer without a mortgage pre-approval letter. Why do they need that you ask? Well, look at it this way, how does a listing agent and the seller know if you can afford to buy the house.
Believe it or not I have people calling me all the time to go show them homes that they are not approved or able to buy. After talking to them, I find they have had bankruptcies, or foreclosures, bad credit, or poor work history. THEY WANT TO BUY. But in their current circumstances they cannot buy a piece of Rome real estate.
I just had a call the other day from a Facebook friend. Their kids wanted to buy, but unfortunately they were only out of a foreclosure 1 year. They have to wait longer before they can buy. So if you were a seller and I brought that buyer with no pre-approval letter there would be an issue. The buyer and seller would agree to a price. The home would come off the market. The inspection would be done and the clients would go to the mortgage lender. Only to find out that the buyer cannot get a mortgage.
So the home owner would have wasted time and had their home off the market for a bad buyer. So it is very smart for any Rome home owner to ask all buyers to bring a pre-approval letter when they bring an offer. A mortgage pre-approval letter is a mandatory item you have to have when submitting a home offer on any foreclosure or bank owned properties. No pre-approval letter, your offer is not even going to be looked at.
So I hope you understand why you need a mortgage pre-approval letter. It eliminates the lookers, and makes sure the deal is a "real deal". It
tells the seller that you have talked to a mortgage lender and that you
can afford to buy this piece of Rome real estate. I hope you learned one more thing about the Rome, GA home buying process. If you have more questions give me a call. I will be glad to help you out every way I can. That's my job to make your home buying process easier and less complicated.