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The Ins and Outs of Pre-qualification

Here’s why getting pre-qualified matters so much in our market.

If you haven’t been in real estate or you haven’t bought or sold a home in a while, pre-qualifications may be new to you. Pre-qualification is the first step in the home-buying process. You have a conversation with a lender, talk about your financial status, and then they give you an estimate on what you can afford. 

As a seller, this matters because if someone submits an offer without a pre-qualification letter, you have no idea if that person can afford your home. For buyers, you want to know how much home you can afford so that you can set appropriate expectations, look for the right house, and make the best decisions for your family. Your lender can even tell you what your closing costs, insurance, and taxes will be.

When you submit an offer, include your pre-qualification letter. That will make your offer stronger and stand out to sellers. The Josh Vernon Group works with several great lenders. If you need suggestions to help get the ball rolling on your next purchase or if you have any other questions, reach out to us. We’re happy to share that information

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