Mortgage Pre-Approval
Secure the Best Rates & Lowest Closing Costs
As you are about to finalize your new home purchase, you need to negotiate from the most influential position. In a more stable real estate market, sellers are often more picky about selecting the final buyer they want to deal with. It is relatively common for a prospective seller to receive multiple offers on their property when the market is favourable for sellers. Having said that, you, as a buyer, do have some ways to attract the Seller to accept your offer over others.
The bulk of today’s buyers incorrectly go through the process, leading them to a position of significant weakness!
Understanding the situation from the perspective of the Seller will give you a vital insight. Imagine you were the Seller and have received multiple offers on your property; which offer are you more likely to accept, the one with Certification of Financing Approval or the one still Conditional on Financing? The answer is clear. What is the reason then the majority of Purchasers do not start the process of financing until they have decided on the home?
Most of the applicants will indeed be approved in due course; however, possessing a Certificate of Financing Approval permits the Seller to prefer to accept your offer over others that are awaiting financial approval.
Now, looking from the perspective of cost-saving. Even from the buyer's perspective, it is wiser to start the financing process sooner to secure the best interest rate and estimate points and the actual cost of closing. When one does this before finalizing on the home purchase, one is not under the urgency of any time limitation and does not need to overpay, unlike a buyer who has made a deal on a home but is under time limitation for financing. If you decide that you would like to get Pre-Approved, just fill out the form on this page. Your information will be forwarded automatically to a certified and experienced mortgage professional who will help you find the best mortgage rate on the market and the least closing costs possible.