How Pre-Approval Makes Home Buying in 2020 Easier (Tara Mortgage Services Featured Blog)

Dated: August 23 2020

Views: 232

These days, everyone is searching for a little more certainty, especially when shopping for a home. If this sounds like you, know that there is an immediate and comforting way to purchase a home in 2020. It's by getting pre-approved for a home loan.

Here are the top ways that a pre-approval letter benefits 2020 homebuyers.  

Check Your Home Buying Power

One of the first benefits of getting pre-approved is getting insight into your financial health and how much home you can afford. One of the first steps we take to get you pre-approved is to check your credit score and analyze your debt-to-income ratio (DTI). 

Often, our applicants are surprised at much credit they are awarded! And other times, getting your credit score and DTI where it should be will take a few extra steps. Either way, you'll have peace of mind of knowing exactly where you stand --and this gives the upper hand over most home shoppers out there. 

Browse Potential Homes with a Purpose

We get it: real estate browsing and imagining your life in a new home is fun. But when you're serious about buying a home, endless scrolling and "guesstimating" affordability will only waste your time and cause you to miss real opportunities. However, with a pre-approval letter on hand, you can browse confidently, without any murky assumptions about your homebuying power. 

Another benefit of browsing with pre-approval is that you'll gain a better picture of all the financial obligations of owning a home. Many overlook the costs of HOA fees, insurance, and property taxes. We'll help you determine the "sweet spot" monthly mortgage payment to make your purchase and accompanying costs transparent. 

Bid with Confidence

Low-interest rates and low property inventory means facing competition. And when your dream home is at stake, you want every advantage over other home shoppers. That's where your pre-approval can help you once again! An offer from a pre-approved buyer generally carries more weight than a similar offer from an interested party without pre-approval.

Finding stability where you can is more important than ever before, and this pandemic doesn't have to wreck your homeownership aspirations. Contact Tara Mortgage Services and get pre-approval today so you can browse and bid with confidence in one of the lowest interest rate environments the US has ever seen!

Latest Blog Posts

5 Super Saving Green Upgrades

Going green is great for the environment, but that’s not the only benefit. When you make green upgrades in your home, it can also lead to some major savings. Check out these investment options

Read More

Helpful Hints For Buying A New Condo From A Developer (Tara Mortgage Services Featured Blog)

2021 is greeting us with a surge of new constructions, especially condos. With the promise of amenities like swimming pools, a communal clubhouse, and done-for-you landscaping, buying a new condo

Read More

5 Ways to Promote Muscle Restoration

It’s commonly believed that the key to reaching your fitness goals is training as hard as possible; but while giving your all is important, it’s only half of the equation for workout

Read More

Tips for Hiring a Home Inspector

Home inspection is an important part of the home sale process, both for buyers and sellers. When it’s time for you to hire an inspector, here are five things you should be thinking about:1. It

Read More