A pre-approval is a snapshot, not a promise. Snapshots age fast, and in DFW's market, where rates move and homes move even faster, a few weeks can turn your buying power into yesterday's news. Shopping with stale numbers can leave you facing surprises at the negotiating table, when your offer no longer matches the financing you planned for.
Why your pre-approval can go stale
Your pre-approval captures the numbers that mattered the day it was written. Rates can shift week to week, and every move changes your payment estimate. An older pre-approval can leave you surprised at the negotiating table, just when you need confidence most.
Think of preapproval as giving your loan officer a clear picture of your financial story. When that picture is current, you can shop with more current financing information in hand.
What an updated pre-approval does for you
A fresh pre-approval gives you current financing details to include in your offer, and gives your real estate agent a credible financing story to share with sellers. That matters in a market where sellers often weigh how likely a deal is to close.
It also helps you plan ahead. With current numbers, you and your loan officer can talk through the financing options that fit your goals, while your real estate agent helps you shape the offer itself.
Let's update your numbers together
Already working with another loan officer? I'm happy to give you a second set of eyes. I'm Andy Tuttle, a mortgage loan originator with CrossCountry Mortgage in Dallas, and I'm glad to help DFW buyers make offers with confidence.
Don't stop shopping. Just make sure the numbers you're using are current. Before you fall in love with the next house, let's update your buying power and build the right offer and financing strategy for you.
Have questions? I'd love to hear from you and walk through your numbers. (Talk with me on CrossCountry Mortgage)
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment or legal advice or instruction. CrossCountry Mortgage, LLC (“CrossCountry”) does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by CrossCountry. CrossCountry its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort, or other tortious action.
Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC NMLS3029 (www.nmlsconsumeraccess.org).
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