Q: I have heard that we should get pre-approved for a mortgage loan before looking at homes in Washington or Oregon. Why is a pre-approval the important first step in the home buying process?

A: I am glad that you asked that question because getting pre-approved for a home loan is the best way to begin when you decide to purchase a home. Perhaps the most important step in completing the pre-approval process is that it gives you the advantage of knowing your buying power and identifying any qualifying areas that might need attention. Your buying power is enhanced by knowing your numbers, which may result in you getting a better deal. The price range you can be approved for and your comfort level for a monthly payment within that price range is also important. This knowledge helps you shop with confidence during your home search. In addition, being pre-approved will save you time and energy. Knowing your numbers eliminates the time spent looking at homes that do not fit your monthly spending goals and often during that process you will discover that you can buy more home than anticipated. Being prepared to buy through the pre-approval process also enhances your negotiating power. Understanding the boundaries of your approval allows you to negotiate with confidence to reach the outcome you desire. It is a short and simple process to be pre-approved for a mortgage loan and move into the buying process with strength and determination. I urge you to get started today and to rely on Directors Mortgage to help you every step of the way. At Directors Mortgage we are ready to work with you to receive a pre-approval for a mortgage loan and we look forward to being part of a great home buying experience!