Why is a pre-approval so important?

Dated: February 8 2023

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Why is a pre-approval so important?
With this fast past competitive ever changing real estate market every detail could make the difference if a seller will choose your offer.  
It's important that you know how much you can borrow.  Knowing your numbers will help narrow down your home search to only the properties that might work for you. 
A lender will determine how much you're pre approved for by considering your credit score, credit history, debt-to income ratio, employment history and asset and liabilities.
Your part is to fill out an application and provide documentation such as proof of income, proof of employment and back statements or any additional items your lender might need. 
Once you do find your perfect home a pre-approval shows the seller you are a serious buyer and increases your buying power over other buyers who are not pre-approved.   
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Donna Merrill

Donna is a New Hampshire resident with a wealth of knowledge of the Southern NH's  town neighborhoods, public and private schools as well as community activities.  Knowing the local market a....

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