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    Why Do Denver Buyers Need to Get Pre-Approved?

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    Today, Patrick Langhans from Bank of England is here to discuss pre-approvals. Why is it so important to get pre-approved?

    The main reason is that it helps you get a contract. If you’re looking at a house and the seller doesn’t see a pre-approval letter, they don’t know if you’re ready to pursue a loan. There’s more risk for the seller. If you have pre-approval, it reassures them the loan will go through and make it to the closing table.

    It’s best to get a pre-approval letter before you find a house for many reasons. As we mentioned, it gives the seller confidence. Additionally, the mortgage process will proceed more smoothly. We can do things like raise your credit score, which will save you more money. We can show you what you can afford and find the best loan for you.

    A lot of people have the misconception that buying a home is like buying a car, where you find the car first and then get financing. We have to back that up and start with financing first because we need a solid game plan in advance. Our buyer specialist in this office really recommends pre-approvals to determine how much you can afford. 

    The pre-approval process involves two prominent steps. The first provides you with information. Your lender will explain your options, such as monthly payments. The more information you have, the better decisions you can make. Afterwards, the lender ensures the loan is ready. They will request documents up front for underwriting so when you find a house you like, your loan is already prepared.
    In this competitive market, you need to get pre-approved. It doesn’t cost you anything to get pre-approval. If you have any questions for Patrick, you can call him at 303-956-9764 or email him at As always if you have any questions about real estate, don’t hesitate to contact us. We would be happy to help you!

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