Top 10 Reasons To Get PreApproved BEFORE Looking At Homes

Top 10 Reasons To Get PreApproved BEFORE Looking At Homes

  • Vast majority of Sellers (and/or their Real Estate Agents) will REQUIRE a Pre-Approval letter to take your offer seriously

  • The Credit Check “myth”. Credit checks typically affect credit scores only 3 to 5 points, and only for a temporary period (NOT permanently). This is not enough to affect most people’s rates, terms, or qualifying

  • Most Pre-Approval letters are good for 120 days. Once your credit is checked and you get that initial Pre-Approval letter, you have up to 120 days to close on a home without worrying about another credit check

  • You’ll avoid ANY delay on submitting an Offer. Even if you DO plan to get Pre-Approved just before submitting an offer, some people lose homes simply because another buyer already had a Pre-Approval letter IN-HAND and were able to submit their offer right away, without delay

  • Have CONFIDENCE of shopping in the right PRICE RANGE. You won’t waste time (and emotions) looking at homes that you ultimately cannot even qualify for.

  • Learn what kind of LOAN TERMS you can expect. Finding out what kind of rate, closing costs, down payment, and monthly payment you qualify for can affect your entire Home Shopping price range and/or goals

  • Avoid Assumptions regarding Qualification. Industry Guidelines for mortgages will dictate what you qualify for, regardless of any personal assessment of your finances. Qualifying is based on the COMBINATION of a person’s INCOME, ASSETS, DEBTs, CREDIT, EMPLOYMENT HISTORY, and MORE. Having JUST excellent income, or excellent credit, or excellent down payment does NOT automatically assume one qualifies

  • Learn valuable information that could affect your OFFER. Once Pre-Approved, Lenders can offer you important data/info that could directly affect the terms you wish to input on any offer

  • A Pre-Approval is not “tied” to any specific home. A Pre-Approval letter simply qualifies you for a home loan with pre-determined limits, and generally can be used on ANY property you find

  • There’s really NO reason to NOT get Pre-Approved upfront, especially since it’s Quick, Easy, and FREE!! Completing a Pre-Approval application generally takes 10-15 minutes. You won’t even necessarily need to provide any financial documents at the time of application. And you can apply via PHONE, EMAIL, ONLINE, or IN-PERSON


Jon Maguire

NMLS ID: 204787

Senior Loan Officer – The Maguire Team

FIVE STAR PROFESSIONAL Industry Award Winner (as seen in “Atlanta Magazine” 8/2013)

Academy Mortgage Customer Service Award Winner – 2010, 2011, 2012, 2013

5565 Glenridge Connector, Suite 400

Atlanta, Georgia 30342

Cell: (770) 331-7500

Fax: (404) 835-9663

Branch Main: (404) 574-2600

EMAIL: jon.maguire@academymortgage.com

WEBSITE: www.academymortgage.com/jonmaguire

** You can also reach my Assistant, Jeanie Koehler, at (404) 574-2627 **

GA Residential Mortgage License: 28208 | Academy NMLS #3113 | GRMA#20505 | EQUAL HOUSING LENDER



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Phone: 678-953-2688
Dated: February 27th 2017
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About Greg: Greg Sanders is recognized as a Keller Williams "Mega Agent". The Sanders team is one of the top te...

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