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Cash-Out Customers Save an Average of $904 Each Month

The initial step in the home-buying process for serious buyers is to get pre-approved for a home loan. A mortgage pre-approval letter from a certified lender provides an estimate of the loan amount, interest rate, and monthly payments you qualify for based on your credit score and overall financial situation. By getting pre-approved, it shows sellers you are serious about purchasing their property and can help your offer stand out in the competitive Denver housing market. 

Advantages of Getting Pre-Approved for a Home Loan

  • A Stronger Offer An offer that includes a pre-approval letter shows sellers that you are a serious buyer because you have been verified by a certified mortgage lender to be financially capable of purchasing a home. This makes your bid stand out from the competition, especially for homes with multiple offers, in competitive housing markets, or for houses with highly motivated sellers.
  • Determine Your Budget During the pre-approval process, you can determine your housing budget by establishing the price range of homes you can afford. Because pre-approval requires a lot of the same financial information as a mortgage application, your lender will be able to more accurately estimate how much they are willing to offer you based on your finances. Thus, pre-approval ensures you do not fall in love with a home you cannot afford.  
  • Fix Application Issues There may be unexpected errors or credit issues in your application that prevent you from getting the mortgage you need even if you pay your bills on time and have an acceptable debt-to-income ratio. When you get pre-approved, a certified mortgage lender will identify any potential issues with your application, giving you time to improve your financial situation and present a stronger mortgage application in future. 
  • Quick Closing By getting pre-approved, most of your financial information has already been verified by a certified mortgage lender. This means that the closing process is quicker, and you can move into your new home as soon as possible. 

Pre-Approval with Golden Oak Lending Denver

As a certified mortgage lender, Golden Oak Lending can help you get the pre-approval you need to purchase your dream home. In today's competitive housing market, any advantage could be the decisive factor that secures you your new Denver home. Our mortgage experts work hard to quickly process your pre-approval application to provide you with the best estimate you qualify for. If you are ready to purchase your new Denver home, schedule a free pre-approval consultation with our expert mortgage lenders today!

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