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The Linda Lom Client Guide

Your Guide to All Things Buying, Selling, Home-Ownership and Washtenaw County

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Linda Lom Client Guide - Getting Pre-Approved

Linda Lombardini

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

Jan 6 1 minutes read

Getting Pre-Approved

We recommend that homebuyers get pre-approved with a lender before selecting a home to purchase. Do not confuse this with pre-qualification. Being pre-approved will benefit you in several ways:

  • Determines the appropriate price range of homes to view;
  • Determines which loan program will best fit your needs;
  • Determines your monthly payment;
  • Determines the amount of your down payment;
  • Determines the amount of your closing costs; and
  • Allows us to structure the offer to best suit your financial needs.

In a competitive market like we have right now, there may be several offers presented to the seller simultaneously. The seller may not even consider an offer from a buyer who has not been preapproved.

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