Why do you need a pre-approval letter if you are looking to buy? Hi, this is Fawn Bertram with Homes by Fawn and Hawaii Life. A pre-approval letter is a one-page document from a lender. The pre-approval letter shows the seller that you are qualified for the purchase of a home. It shows you what you qualify for, what type of financing, and gives you an idea of your monthly payments.
In Oahu, it is not uncommon for a home to list and sell within a week due to the price and location. If the perfect property comes up for you and you haven’t obtained a pre-approval letter, you could miss out on your dream home.
That is why it is my recommendation to get a pre-approval letter months in advance of starting your home search. Not only to protect you from missing your dream home, but also to check that nothing outlandish has affected your credit that could delay your purchase.
Getting pre-approved doesn’t have to be a hassle; in fact, I’ve developed many working relationships with top lenders in the area who are capable of getting you pre-approved within a day. If you are interested in learning more, please contact me, 808-439-1077. I would love to help answer any questions you have. Stay tuned or visit my website or Youtube channel with more helpful tips on the home buying and selling process. Like, comment and share with anyone you know who may benefit from these videos. Fawn Bertram with Homes by Fawn. Make it a great home buying and selling day.