Yes, this is important to do. Most mortgage lenders take the guesswork out of applying for a loan by figuring out the amount you can afford to borrow. Then, they give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income.
Mortgage pre-approval establishes your price range and strengthens your buying position by letting the seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement is signed between buyer and seller.If you are looking to purchase real estate in the Okanagan Valley, contact LORA+CHRISTY Real Estate Team for all your needs.