The number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search.

Understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. You will need to fill out their loan application and provide them with important information regarding: credit, debt, work history, down payment and residential history.

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted. Many potential homebuyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you want to buy, you may be pleasantly surprised at your ability to do so today.