No doubt about it, buying a home is an emotional experience.

It’s a game of balancing needs and wants, while trying to be honest with yourself. It’s hard to get it right, figuring out what’s negotiable and what isn’t. What can you live with and what can’t you live without? House shopping tends to be more arbitrary than science, especially when you’re someone who makes decisions with your heart (sometimes at the expense of your head).

One of the biggest mistakes you can make when shopping for a house is to fall in love with something you can’t afford. Doing this almost certainly guarantees that nothing else will compare and you will inevitably find yourself “settling” for something that is actually quite nice (and would’ve been perfect, had you not already fallen in love with something out of your price range).

Now, there is nothing wrong with dreaming, and touring homes to snap a few pictures to get some inspiration. However, when it comes to the nitty gritty of buying a home, you should know exactly what you can qualify for, so you can shop with confidence. You need a mortgage pre-approval.

A pre-approval does a few things…

  • Outlines your buying power. You will be able to shop with confidence knowing exactly how much you can spend.
  • Uncovers any issues that might arise in qualifying for a mortgage (for example, mistakes on your credit bureau).
  • Outlines necessary supporting documentation so you can get those together ahead of time.
  • Secures a rate for 30 to 120 days, depending on your mortgage product.
  • Saves your heart from the pain of falling in love with something you can’t afford.

Don’t make the mistake of falling in love with something you can’t afford. Get a pre-approval before you start shopping. Your heart will thank you.

If you want to talk with me about your financial situation and nail down exactly what you can actually afford, please don’t hesitate to contact me anytime. This is what I do, and I’d love to work with you!