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Think About Pre-Qualifying Before Starting Your Home Search

If you are thinking about buying a home in Austin, one way to move the process along faster is to get pre-qualified or pre-approved for a home loan. This will give you a better idea of exactly what you can afford before you really start looking. It also saves time and stress once you have found an Austin home that you really want to buy. You won’t be waiting on pins and needles, wondering if you can get a loan – you’ll know.

There are still some formalities to take care of with the lender once you have found the place you really want, but the uncertainty will not be there. A pre-qualification is a basic estimate by a loan officer. It states what the potential buyer can likely qualify for without verification of all assets and debts. Pre-approval is one step beyond that, because it has the verification process complete.

Taking a little time now to get pre-qualified or pre-approved before you start your Austin home search will save you lots of time down the road. Mostly, it will save you from checking out homes that are not in your price range. There’s no point in falling in love with something you cannot afford and cannot buy.

At York Real Estate, we want to make sure you are looking in the right places, too. We hate to see the disappointment on people’s faces when they have found a house that truly piques their interest until they find out the price. When you are pre-qualified or pre-approved, let us know. We can steer you in the right direction. We can also let you know about brand new Austin MLS listings you may not be aware of that are in your price range.

Keep in mind that sellers like working with pre-approved homebuyers. They won’t like wondering whether the buyer’s loan will come through. They may be willing to make small concessions for pre-qualified or pre-approved buyers because the process is faster. This means they can sell their home faster with less uncertainty. It’s a win-win situation for everyone.

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