How Can a Pre-Approval Ease Your Worries?

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Today we are going to continue our discussion on pre-approval letters and why they are so important in a type of market like ours. Last time, we talked about how important a pre-approval was compared to a pre-qualification, including the fact that it's a much more thorough and validated process. 

Right now in Frisco, we still have very low inventory. We have just 958 homes on the market, and over 300 under contract, with 741 homes closing in the last 6 months. Homes are selling quickly, so it's really important that if you're considering buying, you are ready. Having a pre-approval letter is a big part of that equation. 

You want to have that pre-approval for a seller because they know the difference between it and a pre-qualification. With a pre-approval letter, the seller knows that you are vetted and approved by a lender, after having received all of your financial information. 

We recommend to everyone thinking about buying any time in the next 180 days to start working with a lender now to get a pre-approval letter. Our average days on market is half of what it used to be, and the pre-approval letter is essential to presenting the best offer possible. 

If you have any questions for us, or want to get a pre-approval, give us a call or send us an email. We can get you in touch with one of our guys to help you out!