FrontDoor's Real Estate Do's and Dont's

Go For Pre-Approval

By FrontDoor.com | Published: 11/01/2007

Now it's time for you to get pre-approved.

Pre-approved means a lender has looked at your financial information and agreed to lend up to a specific, maximum mortgage amount. The lender gives you a written commitment you can show to real estate agents and home sellers. It's proof you can afford to buy a home. Approach several lenders or consider using a mortgage broker to compare offers and interest rates.

Once you have a pre-approval, you can make offers with confidence. You'll have more leverage in the negotiating process and home sellers will take you seriously.

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GO TO: Home Value Dos and Don'ts

More on FrontDoor:

• Search Homes for Sale
• Home Finance Guide
• First-Time Homebuyer's Guide
• House Hunters Homebuying Guide
• Understanding the Pre-Approval Process
• Why You Need a Pre-Approval Letter

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