Buyers

Common Questions for Buyers

Tips for First-Time Home Buyers

What To Offer

Best Home for You and Your Family

Consumer Household Safety

Energy Saving Tips

Home Inspections

Living Well and Stress-Free

Hiring a Real Estate Appraiser

Title Insurance

Home Warranty

Homeowners Insurance

To Downsize?

To Upsize?


Sellers

Common Questions for Sellers

22 Questions

Determining Market Value of Your Home

How Long To Sell My Home

Listing with a Realtor®

Am I Priced To Sell


Finance

Mortgage Information

Getting That Perfect Mortgage

Get Pre Approved

How Much Do I Qualify For

Avoiding Irresponsible Lending

Managing Home Equity Lines of Credit

Protect Your Biggest Purchase


Home Improvements

Value of Home Improvements

Painting

Staging Your Home for Sale

Staging Your Kitchen for Sale

Staging Your Living Room for Sale


Moving

Planning Your Move

Hiring a Moving Company

Moving with Children

Self-Moving Advice and Tips

 

Get Pre-Approved

Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. Then, they give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income.

Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement in signed between Buyer and Seller.

 

Consider these Scenarios:

Get Pre-Approved

You're out looking at homes. Your Real Estate Broker never mentions that you should get pre-approved and just ballparks what you can afford. Of course, the more house he shows you, the better he usually comes out. You find the perfect house and work out a deal with the Seller. Three weeks later, the lender informs you that the house is $10,000 over what you qualify for and does not approve your loan. The Seller has already bought another house. You've given notice where you're renting and told all your friends about the great house you bought. And then, there's the money you've already spent on inspections on a house you can't own.

You and your REALTOR® have been working diligently finding that "perfect" home. A new listing comes on the market that's priced right and has got everything you've been looking for. You write an offer. Your REALTOR® takes it to the listing REALTOR® and is informed that another offer is coming in and will have to present both offers simultaneously to the Seller. The other Buyer is pre-approved for his loan. Whose offer do you think the Seller will negotiate first?

Should You Get Pre-Approved for a Loan First?

Most Definitely!

For more information on getting pre-approved let us know.

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Each office Independently owned and operated
RE/MAX Fort McMurray
9919 Biggs Avenue
Fort McMurray AB T9H-1S2
Office (780) 743-1369
Fax (780) 743-4369