{"id":7343,"date":"2020-08-27T10:00:32","date_gmt":"2020-08-27T10:00:32","guid":{"rendered":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/"},"modified":"2020-08-27T10:00:32","modified_gmt":"2020-08-27T10:00:32","slug":"why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/","title":{"rendered":"Why Is It so Important to Be Pre-Approved in the Homebuying Process?"},"content":{"rendered":"
\n

\"Why<\/p>\n

You may have heard that pre-approval is a great first step<\/a> in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.<\/span><\/p>\n

According to a recent survey<\/a> from realtor.com,<\/em> many buyers are making the mistake of skipping the pre-approval step in the homebuying process:<\/p>\n

\n

“Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months, only 52% obtained a pre-approval letter before beginning their home search<\/strong>, which means nearly half of home buyers are missing this crucial piece of paperwork.<\/strong>”<\/em><\/p>\n<\/blockquote>\n

This paperwork (the pre-approval letter) shows sellers you’re a qualified buyer, something that can really help you stand out from the crowd in the current ultra-competitive market.<\/p>\n

How competitive is today’s market? Extremely – especially among buyers.<\/p>\n

With limited inventory<\/a>, there are many more buyers than sellers right now, and that’s fueling the competition. According to the National Association of Realtors<\/em> (NAR), homes are receiving an average of 2.9 offers<\/a> for sellers to negotiate, so bidding wars<\/a> are heating up.<\/p>\n

Pre-approval shows homeowners you’re a serious buyer. It helps you stand out from the crowd if you get into a multiple-offer scenario, and these days, it’s likely. When a seller knows you’re qualified to buy the home, you’re in a better position to potentially win the bidding war and land the home of your dreams.<\/p>\n

Danielle Hale, Chief Economist<\/em> for realtor.com<\/em> notes:<\/p>\n

\n

“For ‘a buyer in a competitive market, it’s typically essential to have pre-approval done<\/strong> in order to submit an offer, so getting it done before you even look at homes is a smart move that will enable a buyer to move fast to put an offer in on the right home.’”<\/em><\/p>\n<\/blockquote>\n

In addition, today’s housing market is also changing from moment to moment. Interest rates<\/a> are low, prices<\/a> are going up, and lending institutions are regularly updating their standards. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals (a loan officer and a real estate agent) making sure you take the right steps along the way and can show your qualifications as a buyer at the time you find a home to purchase.<\/p>\n

Bottom Line<\/strong><\/h3>\n

In a competitive market with low inventory, a pre-approval letter is a game-changing piece of the homebuying process. If you’re ready to buy this year, let’s connect before you start searching for a home.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nWhy Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\" \/>\n<meta property=\"og:site_name\" content=\"The Zakaria Group\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/thezakariagroup\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-27T10:00:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/08\/26131034\/20200827-KCM-Share-549x300.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\"},\"author\":{\"name\":\"\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d\"},\"headline\":\"Why Is It so Important to Be Pre-Approved in the Homebuying Process?\",\"datePublished\":\"2020-08-27T10:00:32+00:00\",\"dateModified\":\"2020-08-27T10:00:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\"},\"wordCount\":510,\"publisher\":{\"@id\":\"https:\/\/thezakariagroup.com\/#organization\"},\"articleSection\":[\"First Time Home Buyers\",\"For Buyers\",\"Move-Up Buyers\"],\"inLanguage\":\"en\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\",\"url\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\",\"name\":\"Why Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group\",\"isPartOf\":{\"@id\":\"https:\/\/thezakariagroup.com\/#website\"},\"datePublished\":\"2020-08-27T10:00:32+00:00\",\"dateModified\":\"2020-08-27T10:00:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thezakariagroup.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Is It so Important to Be Pre-Approved in the Homebuying Process?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thezakariagroup.com\/#website\",\"url\":\"https:\/\/thezakariagroup.com\/\",\"name\":\"The Zakaria Group\",\"description\":\"The Zakaria Group\",\"publisher\":{\"@id\":\"https:\/\/thezakariagroup.com\/#organization\"},\"alternateName\":\"TZG, MLS\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thezakariagroup.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/thezakariagroup.com\/#organization\",\"name\":\"The Zakaria Group\",\"alternateName\":\"TZG\",\"url\":\"https:\/\/thezakariagroup.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/thezakariagroup.com\/wp-content\/uploads\/2018\/10\/logo-1.png\",\"contentUrl\":\"https:\/\/thezakariagroup.com\/wp-content\/uploads\/2018\/10\/logo-1.png\",\"width\":400,\"height\":173,\"caption\":\"The Zakaria Group\"},\"image\":{\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/thezakariagroup\/\",\"https:\/\/www.youtube.com\/channel\/UCX6VeVxc5BNyr8TY1piPyXw\",\"https:\/\/www.instagram.com\/thezakariagroup\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d\",\"name\":\"\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g\"},\"url\":\"https:\/\/thezakariagroup.com\/author\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/","og_locale":"en_US","og_type":"article","og_title":"Why Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group","og_description":"You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, […]","og_url":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/","og_site_name":"The Zakaria Group","article_publisher":"https:\/\/www.facebook.com\/thezakariagroup\/","article_published_time":"2020-08-27T10:00:32+00:00","og_image":[{"url":"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/08\/26131034\/20200827-KCM-Share-549x300.jpg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#article","isPartOf":{"@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/"},"author":{"name":"","@id":"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d"},"headline":"Why Is It so Important to Be Pre-Approved in the Homebuying Process?","datePublished":"2020-08-27T10:00:32+00:00","dateModified":"2020-08-27T10:00:32+00:00","mainEntityOfPage":{"@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/"},"wordCount":510,"publisher":{"@id":"https:\/\/thezakariagroup.com\/#organization"},"articleSection":["First Time Home Buyers","For Buyers","Move-Up Buyers"],"inLanguage":"en"},{"@type":"WebPage","@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/","url":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/","name":"Why Is It so Important to Be Pre-Approved in the Homebuying Process? - The Zakaria Group","isPartOf":{"@id":"https:\/\/thezakariagroup.com\/#website"},"datePublished":"2020-08-27T10:00:32+00:00","dateModified":"2020-08-27T10:00:32+00:00","breadcrumb":{"@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thezakariagroup.com\/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thezakariagroup.com\/"},{"@type":"ListItem","position":2,"name":"Why Is It so Important to Be Pre-Approved in the Homebuying Process?"}]},{"@type":"WebSite","@id":"https:\/\/thezakariagroup.com\/#website","url":"https:\/\/thezakariagroup.com\/","name":"The Zakaria Group","description":"The Zakaria Group","publisher":{"@id":"https:\/\/thezakariagroup.com\/#organization"},"alternateName":"TZG, MLS","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thezakariagroup.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/thezakariagroup.com\/#organization","name":"The Zakaria Group","alternateName":"TZG","url":"https:\/\/thezakariagroup.com\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/thezakariagroup.com\/#\/schema\/logo\/image\/","url":"https:\/\/thezakariagroup.com\/wp-content\/uploads\/2018\/10\/logo-1.png","contentUrl":"https:\/\/thezakariagroup.com\/wp-content\/uploads\/2018\/10\/logo-1.png","width":400,"height":173,"caption":"The Zakaria Group"},"image":{"@id":"https:\/\/thezakariagroup.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/thezakariagroup\/","https:\/\/www.youtube.com\/channel\/UCX6VeVxc5BNyr8TY1piPyXw","https:\/\/www.instagram.com\/thezakariagroup\/"]},{"@type":"Person","@id":"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d","name":"","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/thezakariagroup.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g"},"url":"https:\/\/thezakariagroup.com\/author\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/posts\/7343"}],"collection":[{"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/users\/101010"}],"replies":[{"embeddable":true,"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/comments?post=7343"}],"version-history":[{"count":0,"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/posts\/7343\/revisions"}],"wp:attachment":[{"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/media?parent=7343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/categories?post=7343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thezakariagroup.com\/wp-json\/wp\/v2\/tags?post=7343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}