Why Should You Get Pre-Approved for a Mortgage?

If you find yourself with PCS orders or an upcoming job transfer yet again, then you'll be getting ready to start the research project that goes with every move.   What is the new state or duty station like?  What does the surrounding community have to offer?  Where will my kids go to school?  Most importantly, where am I going to live?  Whether you choose to live on post, rent in the community, or take that BAH and invest it in buying your own home, there are a lot of questions and a lot of prep work needed to get ready.   If you're headed here to Fort Bragg, NC then you will have all kinds of options available to you. If you're ready to buy, then we at pcsPads.com are ready to help you out!  You may be anxious to schedule that house hunting trip, but there is a step you should consider taking before you load up the car or hop on that plane.  Consider getting pre-approved for a mortgage as soon as you've made the decision to start looking at homes.  There are a few key reasons for this.
First, getting pre-approved for a mortgage helps you know exactly how much home you can afford.  A great mortgage broker can provide you with a quote that will estimate your monthly payments and closing cost expenses.  Having that knowledge will empower you to find the right home for you and your family.
Second, you want to set yourself up for success for when you actually find that dream home.  The Fort Bragg real estate market is an active one.  Sellers are looking for qualified buyers, and want to limit their risk of running into financing snags.  They are more likely to be willing to negotiate if they know that you have already taken the steps to prove that you are a serious and fully-qualified buyer.
Also, you may actually give yourself an advantage if you're pre-approved.  If you find yourself in competition for the home you want (and it does happen, even in the current market), having that paper stating that you've been pre-approved by a mortgage lender will give you a boost over a buyer who hasn't taken that step.  Sellers prefer going with a sure-thing, and may even choose a lower offer from the buyer with a pre-approval.
The home buying process can seem confusing, but doing your homework and setting yourself up for success early is key.  When you work with a knowledgeable lender and an experienced Fort Bragg real estate agent, they can help guide you and simplify things considerably.  Getting that mortgage pre-approval is your first step to a successful home buying experience.