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WOuld getting a pre-approval letter actually help me better negotiate on the offer we are putting on a house?

by sonia_hartman824 from Boulder, Colorado. Aug 7th 2015 Reply


Mike Towler (mortgagemiket)
#40 ranked lender in Missouri - 26 contributions

Yes. If the seller knows you are pre-approved they are more likely to accept your offer over someone that has not been pre-approved.

Aug 7th 2015
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Chris Neuswanger (mtnmortgageguy)
#93 ranked lender in Colorado - 92 contributions

Sonia,Absolutely, in todays market you need every advantage you can get and letting the seller know that you are pre-approved (vs. pre-qualified) is a powerful negotiating tool. We take our clients a step beyond the usual generic pre-qualification process and run a full pre-underwrite that is generally only contingent upon the appraisal, title and there being no significant changes in the borrowers situation (credit, income, assets) before closing. I do a lot of work in the Front range and would be happy to discuss further if you would like to call me at 970-748-0342. Visit my web site: www.mtnmortgageguy.com to learn more about me and my company, I have 20-years experience in originating home mortgages.

Aug 7th 2015
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

Most successful realtors will not show buyers homes unless they have a pre-approval letter from a lender. I would recommend that you get pre-approved, that way you know your max home price, and the realtor and seller know you are solid!

Aug 7th 2015
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Nick Bebout (NickBebout)
#100 ranked lender in Colorado - 30 contributions

Absolutely! Having loan pre-approval ensures to the seller and real estate agent that your financing is in order. Working with a lender before finding a house will also allow you to get specific quotes and you will also know how much you are able to negotiate. Most realtors will want their clients to be pre-approved before they show any properties. Hope this helps Please feel free to contact me if you have any more questions. Nick Bebout - American Liberty Mortgage - 303-407-0824

Aug 7th 2015
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Sara Deere (Mortgagequeen2)
#1 ranked lender in Missouri - 575 contributions

Make sure you are credit approved not just pre approved from a lender.

Aug 7th 2015
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Most definitely.

Aug 7th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

If you put in an offer on a property, and you don't have a pre-approval letter to accompany it, you might not get any consideration.. It's hard to take an offer seriously if you don't know if the person putting in the offer can actually buy, so the overwhelmingly logical answer is YES!!! You need to be pre approved before you put in an offer.. in fact, most real estate agents wont even show you a home unless they know your pre approved.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Aug 7th 2015
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Jason Berman (jason@jbermangroup.com)
#101 ranked lender in Colorado - 25 contributions

Most sellers expect this as an absolute. They don't want to take their home off the market if buyer isn't eligible to obtain financing. Pre-approval certification will help allay those fears.

Aug 7th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

Yes Sonia. I don't think there is actually a Realtor who would accept a contract without one. However, it is also important to have a strong pre-approval letter. If you can show that you have had your income and assets reviewed by underwriting already and you have received an automated approval, this will strengthen your letter. Listing agents and sellers want to see as little risk as possible in the offer they choose to accept. http://www.imfromdenver.com/are-you-pre-qualified-or-pre-approved/If you have any questions you can reach me at 303-521-7169 or sean.young@nafinc.com

Aug 8th 2015
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Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 1,032 contributions

Most realtors will require you to get a pre approval letter. especially here in Colorado. I am #1 Lender for Colorado on this site and also work with a lot of realtors in Denver area. Feel free to give me a call at 303-955-5606. I have a very informative website that will he.p you along the way and inform you of what is going on in the mortgage market so you will have an idea as to when you should lock based on economic news coming out for the week. But back to your question. The pre approval letter will help you get an accepted contract since the buyer and buyer's agent knows you have been pre approved. But then you want to work with a broker that you feel comfortable with and that can provide you the best service and loans. I have one of the consistently lowest priced lenders in the industry plus I can do most any type of loan that you would need to do to accomplish your goals. Feel free to contact me at your convenience at 303-955-5606 and we can go over your specific situation.

Aug 10th 2015
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