Just the other day, a new homebuyer steadfastly refused to start his Temecula house shopping until he completed the home loan pre-qualification process. When he asked my opinion on his plan, I responded with "smart planning!". Given the opportunity, I wish every client I take on to get pre-qualified. As an real estate broker for Temecula CA Real Estate, I know that having home buyers get solid pre-qualification before they start looking is an absolute must to smart home shopping.
How about five good reasons:
1. Once your loan is pre-approved - it means you really can get a home!
2. After approval you have locked down what you can purchase and your monthly mortgage.
3. With that part done, you stop worrying and concentrate strictly on home shopping.
4. With a approved letter, your real esate salesperson can save you thousands of dollars.
5. Finally, with your pre-qualifcation your transaction will be smooth as silk.
I will take the above 5 bullet-points in order. Now that your loan is pre-qualified it means you really can purchase a Murrieta or Temecula home - that is great news! Far too many home shoppers want to get a property but never confirm that they truly can. Your loan qualification lets you enjoy the romance of finding your next home. It minimizes concern about your options which will stress you out while you shop. Finding a home should be one of the most fun things you ever do. Get your home financiing and simply enjoy the home shopping experience.
So now you are out looking at Temecula homes for sale much more relaxed since you already know for a fact you are approved and exactly your price range. You also know approximately what your monthly mortgage will be at certain purchase prices. Now you get to the exciting part. Whenever you step into a listing that impacts you, you can enjoy in the knowledge that you can really get it. Additionally, you protect yourself the annoyance of viewing homes that are outside the range you can purchase. So many people don't get pre-approved before they go out and usually look outside what they can purchase.
Now with those steps off your plate, you should put your your attention on locating the perfect Murrieta or Temecula house that meets your key goals. Too many people fret about the home financing part they overlook important issues on the homes they look at. Things like school districts, location, community, and standard of life are much more important. When purchasing a home, you need all your energy on the end result.
Another benefit of getting your home financing pre-qualfication is the negotiating clout it grants your salesperson when you decide to make an offer. Professional real estate agents use loan pre-qualification to get you the best negotiated transaction. If you are bidding against other buyers for an incredible deal on an under-valued house, you have a much better chance of getting the house. Since there is less downside because your are qualified, the agent can ask for all closings costs paid.
With all that said, the best benefit in getting your loan approval is a significantly less stressful house purchasing experience. It really can make everything smoother. Let's re-hash out the reasons again. You will enjoy viewing homes significantly more. You will have attention to detail and make a smarter long term choice. You will also get a better deal. And, in the end, the transaction will go through quicker and be a lot more enjoyable. A smart Temecula real estate purchase begins with good decision making.
Stefan is a
real estate broker for
buying homes in Temecula CA To learn more about the Temecula and Murrieta community please visit http://www.stefanwest.com/news_and_articles.html .
