Many new home buyers are concerned about it and you would also wonder why you should care. Let us break it down here.

What is a Pre-approval?

As you step into the home buying process and start the loan process, your lender will look into your finances to figure out what they can lend you. They will check your credit scores, tax returns, W-2, bank statements, and so on.

After checking everything, they will offer you a pre-approval letter that informs you the amount of money you can borrow given your financial condition. With growing age, homeownership is getting easy and affordable, but the condition still remains tight. So, a pre-approval with the help of real estate agents in Iowa City IA will help you understand what you can borrow and it can help you wrap your head around the financial side of things.

A pre-approval doesn’t mean you should borrow the full amount, it is just a testimony to the maximum amount you can borrow from the market. The letter helps you make an informed decision and you can calculate your numbers well. With this pre-approval, you are able to tailor your home search to what you are comfortable with spending and how fast you can act to fulfil your dreams of owning a home.

Meet your real estate agents in Iowa City IA to learn more about pre-approvals.

About the Company:

At Jeff Dill, we have been a market leader in Iowa City and the surrounding area for 30+ years. We are here to support you for all your real estate needs.

Contact:
Company Name: Jeff Dill Real Estate
Website: http://www.jeffdill.com/
Email ID: [email protected]
Phone No.: 319-430-4400
Adderss: 2346 Mormon Trek Blvd, Iowa City, IA 52246, United States