Don't waste time searching for "Your Dream Home" or Perfect Real Estate Property and then "Gamble" that you can Afford it.
WHY DO Real Estate Buyers Save Money and time when Pre Approved for a Loan.
Because you're in a stronger position to negotiate Real Estate asking prices down with a loan pre approval. When a Real Estate Agent writes in a contingency on the contract that says "subject to buyer qualifying for financing" the Buyer is at a disadvantage. 40% of Real Estate contracts "fall thru" because of financing contingencies. When a yard sign or MLS Listing says "Contract Pending" ...other buyers and Real Estate Agents pass it up. Sellers realize that ...and rarely negotiate too far from the asking price.
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