Q: Why Should Buyers Start With a Pre-Approval Letter?

By Mark Callender

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

Not only does a pre-approval letter communicate that you’re a serious buyer, it also accelerates the buying process. Here’s how.

Our market is hot, and buyers find themselves in a highly competitive arena. You have to be ready to put your best foot forward when the time comes. I’m sharing three compelling reasons to get a pre-approval letter now, even if you don’t intend to buy until later this year. One major reason is that having one communicates to the seller that you’re serious and active in the market. 

If you’re waiting on your lender to get back to you with your pre-approval letter after you’ve already made an offer, it may be too late—mere days matter in a seller’s market, and another offer could get accepted in the meantime. 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most: 

0:24 - Describing our seller’s market from a buyer’s perspective 

1:28 - Reason No. 1: The buyer needs to gain a competitive advantage 

2:55 - Reason No. 2: It accelerates the buying process

3:55 - Reason No. 3: You will know what you can borrow and afford 

6:04 - Freddie Mac’s “Four C’s” that determine the amount you’ll be qualified to borrow

If you have additional questions about the information covered in today’s message or you’re ready to buy or sell a home, feel free to call or email me. I would love to speak with you.