Reasons a Pre-Approval Should Be Your First Step In Buying a Home

Buying a home is an exciting but complex process, and for most people, it's the biggest purchase they will ever make. As a result, it's crucial to approach the process with a clear understanding of your financial capabilities. That's why our experienced mortgage lender in Lake Ozark, MO encourages you to secure a pre-approval as the first step you take when buying a home.

A mortgage pre-approval indicates the amount of money you can borrow based on your credit score, income, debt-to-income ratio, and other factors. Here are some reasons why getting a pre-approval should be your first step in buying a home:

 

Know Your Budget

A pre-approval will give you an accurate idea of how much house you can afford. This can help you narrow down your home search to properties that are within your budget, saving you time and effort. It's essential to set realistic expectations for your home search, and a pre-approval can help you do that.

 

Be Taken Seriously by Sellers

When you make an offer on a home, sellers want to know that you can secure the financing needed to close the deal. Having a pre-approval letter in hand shows that you're a serious buyer and can help you stand out in a competitive market.

 

Move Quickly When You Find the Right Home

In a competitive housing market, homes can go quickly. Having a pre-approval in hand can help you when you find the right home. You'll be able to make an offer right away and potentially close the deal faster, giving you an advantage over other buyers who haven't yet secured financing.

 

Identify Potential Issues Early

Obtaining a pre-approval can also help you identify any potential issues with your credit or finances that may affect your ability to secure a loan. If there are any issues, you'll have time to address them before you start house hunting.

Getting a mortgage pre-approval at Lake of the Ozarks should be the first step you take when buying a home. It gives you an accurate idea of your purchasing power, helps you stand out as a serious buyer, and allows you to move quickly when you find the right home. It also helps you identify potential issues early. Before you start your home search, make sure you have a pre-approval in hand. If you’re ready to get your mortgage pre-approval, give us a call at (573) 746-7211 or visit our website at www.yourlakeloan.com!

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

First State Bank Mortgage – Michael Lasson 

2751 Bagnell Dam Blvd Suite B 

Lake Ozark, MO 65049

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Reasons to Get Pre-Approved Before You Start Your Home Search

Starting your home search is an exciting time! Our Lake of the Ozarks mortgage lender is here to make your home buying process a breeze. Getting pre-approved for a home loan should be your first step. Team Lasson is here to tell you why!

Determine Budget

A pre-approval provides you with an amount you can borrow. This can help you determine your mortgage budget, which will help guide your home search within that range. 

Advantage in Negotiations 

A buyer with a pre-approval from their mortgage lender is a much more appealing buyer than someone without. Sellers will likely lean toward your offer over other offers that do not have a pre-approval. This step gives you an advantage over other buyers. In this competitive real estate market, every advantage helps!

Realistic Search

There is nothing worse than falling in love with a home that you later find out you cannot afford. A pre-approval can help you avoid that heartbreak by knowing how much of a home you can afford before starting your home search!

Speeds Up Closing

When you find your dream home, you are likely going to want to act fast. Being pre-approved with your lender will speed along the home buying process and get you to the closing table faster. 

Set yourself up for a successful home purchase when you get pre-approved! Our mortgage lender in Lake Ozark, MO looks forward to helping you get pre-approved and off on the right foot in order to search for a home with confidence. If you are ready to get started with a mortgage pre-approval at Lake of the Ozarks, give us a call at (573) 746-7211 or visit our website at www.yourlakeloan.com!

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

First State Bank Mortgage – Michael Lasson 

2751 Bagnell Dam Blvd Suite B 

Lake Ozark, MO 65049

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Tips for Buying a Home in an Aggressive Real Estate Market

The real estate market at Lake of the Ozarks is on fire. This aggressive market requires the right strategies for buying a home near Osage Beach, MO. Our Lake of the Ozarks mortgage lender is here to offer some advice on how to buy a home in a market such as this. 

Get Pre-Approved For Your Loan

A pre-approval from a mortgage lender proves that you are a serious buyer. With a pre-approval in hand, you've already taken the steps upfront to know how much money you are able to borrow for the purchase of your home. This gives you a leg up if multiple buyers are making offers on the same property. 

Be Strategic With Your Budget

Consider looking for homes below or toward the bottom of your budget. This gives you negotiation power to make an offer close to or above the asking price. This makes you a more competitive buyer in current market conditions. 

Don't Get Discouraged When House Hunting

The home buying process is full of emotions. You're searching for the place where you and your family will spend most of your time, after all! It's a big deal! Try to keep a positive attitude during the whole process. The turnaround in this market is fast! Just because your ideal properties are selling before you have a chance to look at them or make an offer doesn't mean you'll never find your dream home. Just as quickly as homes are selling, more are coming on the market. 

Be Ready to Act Quick

In order to find your dream home, you'll need to be aggressive in this market. Be ready to check out new listings as soon as possible. You will also want to be quick in making your decisions on a property. If you want to make an offer, it's best to do so in a timely manner before another buyer comes in and takes the property under contract.  

Put these tips into play when you buy a home at Lake of the Ozarks in 2022. The first step in the buying process is to get a pre-approval, especially in this market. If you're ready to secure your mortgage pre-approval at Lake of the Ozarks, contact Team Lasson today. Give us a call at (573) 746-7211 or visit our website at www.yourlakeloan.com. We look forward to helping you buy your dream home!

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Senior Loan Officer

NMLS #: 493712

4655 B Osage Beach Parkway

Osage Beach, MO 65065

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.