Deciding to start looking for a new home can be a thrilling adventure. However, before you start down the path of serious house hunting, there’s one thing you should consider checking off your list to ensure the home buying process is as easy and painless as possible.
To start, we recommend getting pre-qualified. With DuGood, getting pre-qualified is an easy process that won’t take long.
We realize that you’d rather be shopping for your dream home than pulling together paperwork, but trust us, this will save you a lot of hassle later on down the road. Scroll down a little further and read about the following five benefits for getting pre-qualified before starting your house hunt.
1. It Says Your Serious
When shopping for a home, real estate agents and sellers will know you’re a serious buyer if you come prepared with your paperwork. This can come in handy if you find the perfect home with multiple offers on it. You’ll be ready to put in an offer right away, increasing your chances of beating out the competition.
2. Save Time
Everyone loves time-saving tips. Going through the pre-qualification process reveals what type of home you can afford. You’ll be able to narrow your search down to homes that fit your budget.
3. Bargain Better
Being pre-qualified means that you’re serious and ready to bargain. It also means that you’re a low-risk buyer which can comfort sellers. You’ll likely have more negotiating power as real estate agents and sellers know that you’ve already talked to a lender.
4. Prevent Unpleasant Surprises
If you find the perfect home without going through the pre-qualification process, this leaves room for unpleasant surprises such as a low credit score or negative debt-to-income ratio. All of which could impact you getting the best house for you and your family.
5. Shorter Closing Periods
Since you’ve already done all the work of collecting the proper paperwork upfront, closing should be a breeze. This helps speed up the process, allowing you to make a move sooner.
Now that you’re aware of all the benefits of getting pre-qualified, apply online at our EZ Mortgage App to start the process! If you still have questions about available home loan rates or financing options, reach out to one of our home loan professionals at (409) 726-2126.