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    Why You Should Get Pre-Qualified (And What Can Happen If You Don’t)

    Any agent will tell you, you need to get pre-qualified for a mortgage before you fall in love with a house you can’t afford.

    On the flip side, you also need to get pre-qualified for a mortgage before your dream house comes onto the market and accepts an offer from someone who was already pre-qualed and ready to go.

    Don’t wait to get pre-qualified for a mortgage!

    Get your pre-qual before you start looking for houses! I know it might not make sense to find out what you qualify for before you even know what you want… but believe me, it does!
     
    When we write an offer, we need to submit a pre-qual letter OR proof of funds. Meaning if you’re getting a loan we need to know about what you can afford (isn’t an exact dollar amount) or if you are paying cash, proof that you have that cash.
    For example, I just saw a house that was listed one day on the market already go under contract. And honestly, it happens ALL THE TIME!
    If that was your DREAM HOUSE and you wanted to write an offer but someone who was pre-qualed and ready to write an offer got to it first, would you be crushed? Probably!
     
    Don’t wait on being pre-qualed!
    It’s not a hard credit check and I CANNOT submit an offer without one (unless you are paying cash)!
    Also, if find a house you love but then you go get pre-qualed and it’s out of your budget…
     
    Then you have to change your entire search! That could be a difference in kitchen size, a garage space (or no garage), bedroom size or amount of bedrooms, yard size, neighborhood… etc etc.

     

    Think about it.
    You don’t know if you don’t ask!
    Please contact me if you need help getting in touch with a lender.

    Information provided by Ashley Hicks. Questions? Feel free to reach out to Ashley@ParagonTucson.com, I’m happy to help!

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