What You Need To Know About Pre-Approval

**"A digital infographic titled 'What You Need to Know About Pre-Approval' provides an overview of mortgage pre-approval. The top section features a green-highlighted 'PRE-APPROVAL' text against an image of a house. Below, the infographic explains that pre-approval is when a lender checks financial details to determine how much a buyer is qualified to borrow. The section 'Factors That Can Impact Your Pre-Approval' lists key considerations such as: Debt-to-income ratio Income and employment status Credit score Payment history Next, the section 'Why It's So Important to Do Early On' highlights four benefits of pre-approval: It provides clarity on borrowing limits and budget planning. It helps avoid falling in love with homes outside the budget. It builds confidence in securing a home loan. It signals to sellers that the offer is serious. A 'Pro Tip for Today’s Market' from Freddie Mac advises buyers to remember that pre-approval is the maximum loan amount a lender may offer, but buyers should only borrow what they are comfortable repaying. At the bottom, a call-to-action encourages connecting with a trusted lender, and the infographic is branded with real estate agent Paul Garrison’s contact details.

Before you even start looking at homes, there’s something you should do first – and that’s get pre-approved for your mortgage. Pre-approval is when a lender checks your finances and decides how much you’re qualified to borrow for your home loan. This helps you determine your budget and makes your offer stand out for sellers. Connect with a trusted lender to get the process started.

 

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