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Getting Pre-Approved
Linds_B18
Posts: 1 Newbie
I want to get pre-approved for a mortgage but am not absolutely positive how much they home I want to buy will be. Should I get pre-approved based on what I have a 20% down payment for, or should I wait and identify the home I want before getting pre-approved? I've read articles that say pre-approval is the way to go, but I would love some real advice.
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Comments
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You can't get pre-approved as you would need to have found a house to be approved.
Best you can do is get an agreement in Principal, in which case you should get the AIP for as much as possible as its easy to take a lower mortgage after you find the house, but can be a problem if you want a Higher one than the AIP agreedI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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