PreApproval

As exciting as viewing properties can be when you are ready to purchase a new home, it's actually not the first step in the home-buying process. Before looking at homes, you want to ensure that you have your mortgage pre-approval or proof of funds first. You may be wondering, is the pre-approval letter or proof funds really necessary to have up front? Yes, it is! We often get asked this question. Most Sellers require purchase offers to be presented with a pre-approval letter or proof of funds. It can be the difference between purchasing the property you want and losing out to another offer. Additionally, having the pre-approval or proof of funds helps you understand what you can afford and what types of properties we should show you. You should provide this to your agent prior to viewing properties so that they can show you homes within your price range. If you need help determining where to get started to obtain pre-approval, please reach out to us. We suggest that you use a SWFL mortgage broker to help you secure funding. We maintain a referral list of mortgage brokers that we have worked with that consistently exceed our expectations. We would be happy to connect you with one of these mortgage brokers. If you don't need financing, it is sufficient to provide a simple letter (or email) from a U.S. or Canadian financial institution (dated within 30 days) confirming that you have the necessary funds available for the purchase. Alternatively, you could provide an account statement (with account numbers redacted) showing sufficient funds. Reach out to us if you have any questions or if you need assistance finding a local mortgage broker.