| When you have plans of purchasing a home, it is | | | | If your agent does not know how much you can |
| important that you acquire a mortgage prequalification. | | | | spend on the property, he might waste time showing |
| The prequalification indicates the amount the lender is | | | | you houses that are beyond your capacity to pay. |
| willing to lend you. | | | | 4. Pre-qualification is a key for sellers to have |
| Knowing the amount you shall receive from the lending | | | | confidence in your capacity to pay. With the financial |
| firm or bank, will help you and the real estate agent | | | | turmoil that the country is facing, sellers want to be |
| find the right house. | | | | sure that their potential buyers have indeed the |
| Here are some of the reasons why you should | | | | resources to pay for the property. Gone were the |
| pre-qualify first before you head out to shop for | | | | days when people trust others base on what they |
| houses from Gilbert Homes: | | | | say. A prequalification letter will ensure the sellers that |
| 1. This will help you clear your credit issues. In order to | | | | you are serious about purchasing the house and has |
| pre-qualify, you have to make sure that your credit | | | | the ability to pay for it. |
| records are good. Since this is the case, it is | | | | 5. You know how far you can go to bid for prices. |
| necessary that you ask for a copy of your credit | | | | Since now is the best time to purchase a house, there |
| history. This will in turn give you the chance to check if | | | | is a bigger chance that other buyers will check out the |
| there were anomalous transactions credited under | | | | Gilbert Homes property you have been saving for. If |
| your accounts. Although this is not the goal of the | | | | you really want the house, you can bid as much as |
| entire process, this will be a great help to you. | | | | what you can handle. Imagine, if you are not aware of |
| 2. This will give you an idea of the kind of house you | | | | how much you can negotiate, you might be closing a |
| can afford. This is the utmost of advantage of | | | | deal that you cannot manage to pay. |
| prequalification. Once you are aware of how much | | | | Before you look for a house, it is important that you |
| can borrow, you can start scouting for house that are | | | | apply for prequalification first. This will prevent you |
| within the price range you can pay. This is better than | | | | from checking a house you cannot have. A |
| starting to search for houses when you do not have | | | | prequalification letter will also help you and your agent |
| an idea if you can pay for it or not. | | | | find the best house for you. You will know how far |
| 3. This will help the real estate agent find the right | | | | you can go as far as bidding is concern. In addition, the |
| house for you. It will be a great help for your realtor as | | | | seller will be sure that you can pay for the house. |
| well. Realtors have information of the different houses. | | | | |