inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite.png
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite-5.png
Real Care. Real Results.
  • Home
  • Buyers
    • Homebuying Video Tips
    • Why Get a Mortgage Pre-Approval?
  • Sellers
    • Get Your Home’s Value
    • Home Selling Video Tips
    • Stage Your Home?
  • Blog
  • Areas
    • Baltimore City
  • About Brad Cox
    • Reviews
    • Brad’s Favorites
    • Links
    • Contact
    • Privacy Policy
  • Make an Appointment
Brad Cox
Realtor, Principal
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2022/12/459b7cd91de1d345d2b96756ab49b4e40ef53740.jpg

410.375.7550 / 410.583.5700

Brad@HomesByVesta.com
Sign In
Sign Up
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite.png
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite-5.png
Real Care. Real Results.
  • Home
  • Buyers
    • Homebuying Video Tips
    • Why Get a Mortgage Pre-Approval?
  • Sellers
    • Get Your Home’s Value
    • Home Selling Video Tips
    • Stage Your Home?
  • Blog
  • Areas
    • Baltimore City
  • About Brad Cox
    • Reviews
    • Brad’s Favorites
    • Links
    • Contact
    • Privacy Policy
  • Make an Appointment
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite.png
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentwhite-5.png
Real Care. Real Results.

Why Get a Mortgage Pre-Approval?

In many markets across the country, the amount of buyers searching for their dream home greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

But even if you are in a market that is not as competitive, knowing your budget will give you the confidence to know if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

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 with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

Capacity: Your current and future ability to make your payments

Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash

Collateral: The home, or type of home, that you would like to purchase

Credit: Your history of paying bills and other debts on time

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.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Contact us today to speak with one of our preferred lenders.


Contact Me

SEND
Submitting
Succes! Your message was sent!
Thanks for contacting me! I'll be back in touch shortly and look forward to assisting you.
Oops! Error occurred.

Search listings

Enter city, zip, neighborhood, address…
Loading in progress…
No results found
Type in anything you’re looking for
Search

About me

inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2022/12/459b7cd91de1d345d2b96756ab49b4e40ef53740.jpg
Brad Cox
Realtor, Principal, License #652795
M: 410.821.3122

O: 410.375.7550 / 410.583.5700

E: Brad@HomesByVesta.com
All the comforts of home. We help you get there.
EHO
EPRO
Realtor
ATHWD
EHO
EPRO
Realtor
ATHWD
EHO
EPRO
Realtor
ATHWD
EHO
EPRO
Realtor
ATHWD

Office

Long & Foster Real Estate, Inc.
1312 Bellona Ave, Suite 200Lutherville
MD 21093
410.583.5700

Essentials

  • Home
  • Make an Appointment
  • Get Your Home’s Value
  • About Brad Cox
  • Links
  • Buyers
  • Homebuying Video Tips
  • Sellers
  • Home Selling Video Tips
  • Stage Your Home?
  • Reviews
  • Blog

Explore our communities

  • Anne Arundel County
  • Baltimore County
  • Baltimore City
  • Carroll County
  • Harford County
  • Howard County

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
  • Privacy Policy
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparenttext.png
inception-app-prod/N2VkNGMwYjMtYzc2My00NGY2LTg3YTItMWNiY2MzMGY2YjI4/content/2020/05/thevestagrouplongtransparentnowhite.png
Real Care. Real Results.

© 2023 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Your password needs:
At least one uppercase letter
At least one special symbol or number
At least 8 characters
Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Your password needs:
At least one uppercase letter
At least one special symbol or number
At least 8 characters
Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Account verification in progress

Account Verified!
The page will reload automatically.
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link