Check Your Pre-Approval – Here’s Why

Buyer Tips and Advice graphic

If you are planning to buy a home and will need a loan, be sure you have a Pre-Approval. This is essential for a couple of reasons. Plus it should be done BEFORE you get started on your home search.


ONEyou need to know what you qualify to borrow based on a review of your financials. Hence, coupled with your down payment you’ll know your buying power in this competitive market. That’s critical so you can move quickly if you need to.

TWOyou will need to prove your financial worthiness to the seller and listing agent when making an offer. Be aware some sellers request to see your written pre-approval before confirming a showing.

You certainly don’t want to waste time looking at homes you can’t afford. Plus a good agent will want to know that you ARE loan worthy before setting up showings. I certainly want to know.


Also, a pre-approval takes time so don’t wait until you want to make an offer.

Furthermore, the other important point is to make sure you are getting a pre-approval, NOT just a pre-qualification. With a pre-approval the lender checks your credit, collects financial documents, verifies income, and more.

This is far stronger than a pre-qualification that may only rely on verbal statements of income and financials plus credit check. It won’t impress a seller or a listing agent

If you need to get pre-approved and need recommendations, let me know. I can provide the names of several lenders I know personally that you can choose from.


If you have a pre-approval in hand, great! But here’s something really important at that.

The interest rates have bumped up quite a bit in the last couple of weeks. That of course impacts your loan payment amount, perhaps substantially. If your pre-approval was not just done it’s essential to check with your lender.

Your payment may have gone up more than you are comfortable with.

Or worse, you may find you no longer qualify for the same loan amount due to higher interest rates.  With rising prices, this is important information you deserve to have so there are no surprises.

If I can answer any questions, please reach out to me at (760) 840-1360 direct or text.


Here are several resources as you begin planning for your purchase.

Spring 2022 Home Buyer Guide

Home Buying Tips and Advice

A buyer consultation with me so we can discuss YOUR needs, plans, budget and timing.

And if you are selling a home we can discuss that too! Plus a market and equity analysis AND a discussion of “where will you go?