Become pre-approved for a mortgage loan before beginning your San Diego home search.

You’ve probably heard this many times: Get pre-approved first, then begin the search for your San Diego home.

Why? For several reasons.

First, you’ll learn just how much you can spend on your new San Diego home. Events over the past few years have changed the landscape when it comes to lending. They’ve even affected credit scores for consumers with perfect credit histories. Becoming pre-approved will show you where you stand.

Next, you’ll learn about different loan programs. You may choose one over another, and that one may come with requirements affecting the home you choose. FHA and VA, for instance, have some specific guidelines.

But perhaps most important of all: When you’re pre-approved for a loan, your offer is more likely to be accepted.

Sellers want to know that if they take their home off the market pending a closing, that closing is probably going to happen. A letter of pre-approval gives them that confidence.

If you’re planning to buy a short sale or a foreclosure, becoming pre-approved is mandatory. The asset managers who handle short sale and foreclosure properties won’t even consider approving your offer until you’ve shown that you can complete the purchase.

And speaking of confidence – local lenders inspire more confidence in sellers than “Internet lenders” and will be likely to give you better service.

If you don’t already have a trusted mortgage lender, get in touch and we’ll provide you with a list of lenders who have served our clients well.

Just call 619-929-1413 or write td@tomdunlap.com.

Call us! We’re always glad to help.