Many Las Vegas Real Estate Agents will not show you a home because you have not been pre-qualified for a mortgage. They do this not because they're not interested in your business but because they're looking out for your best interests.
A lender pre-qualification letter specifies how much a lender is generally willing to lend you. The lender typically arrives at that number after evaluating your assets and debt and checking your credit. Here's why that matters in your home search:
1. Increase your bargaining & negotiating power.
2. Allows for a faster closing period when you do find a home.
3. Allows you to shop with confidence, knowing that you are already approved
4. Saves you time by eliminating properties that are beyond your price
5. Makes you more aware of credit issues so you can fix them before you find your dream home.
The first step to getting a Las Vegas home loan starts not with playing with an online calculator but understanding your financial position and what you can afford.
Contact Steve Cowan to look at your financial situation, diagnose potential roadblocks before you ever call a REALTOR®, and help you understand your home buying options. Click here to get started.