The Benefits of Obtaining a Home Loan Pre-Qualification

Posted by Justin Havre. on Monday, January 26th, 2015 at 8:00pm.

Making an effort to get pre-qualified for a mortgage loan is crucial if you have decided to buy a home in Calgary. Getting pre-qualified for a loan has many benefits. A great advantage is simply the knowledge that you are qualified to buy your dream home and can obtain the required mortgage loan.

You will also be considered as a serious home buyer

This gives an indication to the home seller that you are a genuine potential buyer and your offer will be given greater attention when compared to a buyer who has not been pre-qualified for a loan. If the seller has several similar offers, the likelihood of your offer being selected is definitely higher.

Your agent will also take you a lot more seriously.

You will find that your real estate agent will work even harder to search for and get you the ideal home in the shortest possible time. If you do not spend some time to get pre-qualified for a loan, you may find your agent less enthusiastic to work with you. When you have obtained a loan pre-qualification, it shows that you are  serious about buying a home Without getting pre-qualified, the chances of a potential buyer backing out on a purchase decision is higher, for whatever reasons may come up. That is why an agent will prefer to work with someone who has been pre-qualified.

You will also know the price you can pay for a home.

This will prevent you from wasting a lot of time looking at homes that are priced out of your reach. Your agent will do everything possible to help you find you a home within your budget. Having the knowledge of the amount you can afford will save you a lot of time and will give you the peace of mind you need about your pricing limits.

If you want to purchase a home in Calgary you really should take the time to get yourself pre-qualified for a mortgage loan. It will give you greater financial confidence and your agent and the seller will have that confidence in you as well.

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