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Should I get pre-approved?

Should I get pre-approved? 


For several reasons: 

  • There is no cost for the application process. 
  • Helps you understand your buying power.  Going over your credit report, assets and liabilities with a lender, so they can tell you the amount they can approve you for is also known as buying power. The lender can also let you know what you can do to increase your buying power, if desired.
  • It’s a good education.  The lender can show you what your payment will be at different price points with principle, interest, taxes and insurance, also known as PITI. They will also be able to go over the different types of mortgage products, like VA, FHA, ARMS and conventional loans and help you determine what is the best product for you. 
  • Being able to buy a home is a good investment strategy for the future. Better to pay your mortgage, then someone else’s mortgage. 🙂

We work with several great lenders and would be happy to put you in touch with one to get started! Call us today at 703-201-4959.

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Our agents write often to give you the latest insights on owning a home or property in the local area.