Are you in the market for a new home? That’s great – but if you’re not already pre-approved from your mortgage broker, be sure to read on.
Pre-approvals are very important for two reasons.
They give you confidence in knowing that a specific amount of financing is available for you.
A pre-approval can put you in a positive negotiating position against other home buyers who aren’t pre-approved.
Not all pre-approvals are the same, though. There are essentially three different kinds.