Top 5 Excuses for Putting Off Getting Pre-Approved For A Mortgage- Dave Your Mortgage Guy

For some odd reason, some folks want to put off getting pre-approved for their mortgage until the last minute. Not only is this super risky but it can also put you in a really bad situation. Here are the top 5 excuses I have heard and why they are a bad idea:

1. “I am going to wait until I find the right home”- This is actually causing you to go backwards. Before looking at a home you need to get pre-approved to find out how much home you can get approved for, how much money you need to buy the home and if you can even get approved for a home. By looking at homes first you risk missing out on that home by not being pre-approved.

2. “I am going to wait until my home is sold”-Even if you are wanting to sell your home before buying a new home, you will want to get pre-approved for your next mortgage. When your home sells but you don’t know if you are pre-approved you could end up renting or staying with family. So have a plan first, get pre-approved.

3. “I am getting my down payment in a month and will do it than”- Having a down payment is a huge part of buying a home and a requirement. But get pre-approved first so you know how much down payment you really need and how much home you get approved for.

4. “I am working on my credit”- Even if you have “not so perfect” credit, you should get pre-approved by a trusted mortgage professional. They will guide you in the right direction to improve your credit. Don’t go down this road by yourself, let them guide you. I do this all the time for my clients and many go onto buy a home.

5. “I make enough, it won’t be a problem to get approved”- This could be very true, but you need a pre-approval letter to make an offer. And many Realtors want to see you are pre-approved before showing you homes. And wouldn’t it be better to be sure, then to get a big surprise when you find your dream home and you can’t get approved…..

Don’t put off getting Pre-Approved for your Mortgage, it can only hurt you.

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David Krichmar

Mortgage Banker NMLS#293883

Core Lending dba of Weststar Mortgage Corporation

Branch NMLS#868672 WMC NMLS#93243

Has Written For Realtor Magazine, Houston Agent Magazine, Scotsman Mortgage Guide

Approved MCE Instructor


For More Mortgage Info and Social Media Tips For Realtors Follow me at Dave’s Blog is Voted the #1 Mortgage Professional in Houston, Texas. 2011

If you are looking for a FHA, VA, USDA, Homepath, Conventional, Jumbo, Construction, FHA 203k mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, Bellaire, West University, The Woodlands, Kingwood, Friendswood, Clear Lake, Galveston, Fulshear, Tomball, Spring, Conroe, Montgomery County or anywhere in Texas I am your GUY!

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