PAM DENT

Jump into Greener Pastures


434-960-0161
[email protected]
  • About
    • About Us
    • Company Info
    • Testimonials
  • Featured Properties
    • Walnut Grove
    • Madison Co. Farm
    • Brightly
    • Black Walnut Farm
  • Buyers
    • Home Buying Steps
    • Home Inspections
    • Inspection Study Period
    • Buyers
    • Customer or Client
    • What are the Things that a First-time Home Buyer Should Consider Before Purchasing?
    • Buyers Articles
    • Area Information
  • Sellers
    • Home Inspections
    • Sellers
    • How to Prepare Your Farm for Sale
  • Specialties
    • New Construction Homes in Central VA
    • Golf Communities
    • Farms & Estates
    • Seniors Real Estate
    • Historic Properties
  • Counties
    • City of Charlottesville
    • County Details – Albemarle Co.
    • County Details – Fluvanna Co.
    • County Details – Greene Co.
    • County Details – Louisa County
    • County Details – Nelson Co.
  • MLS – Search
    • Search By County
    • Search By Price
    • Search By Acreage
  • Blog
  • Contact

✅Why a Pre-Approval Is Crucial When Buying a Charlottesville VA Home

Are you getting ready to buy a new home?

One of the most important steps in the home buying process is obtaining financing. As a buyer, you have to know for certain which type of mortgage best suits your needs. In order to determine that, you need to get pre-approved for a mortgage.

Charlottesville real estate for saleMany buyers don’t understand why getting a pre-approval is important.  The truth is, if you don’t get a loan pre-approval before you start looking for Charlottesville homes for sale, you might actually prevent yourself from finding—and buying – your dream home.

Pre-qualification Vs. Pre-approval

There are some people who think that a pre-approval and a pre-qualification are one and the same.  There is actually a world of difference. You need to understand the difference between being pre-qualified and pre-approved.

A pre-qualification is the initial step and the entire process is informal. To prequalify for a mortgage, you have to meet with a lender and provide information about your assets, income, and liabilities. The lender will give you a rough estimate of how much money you can borrow based on the information you have given.

A mortgage pre-approval, on the other hand, is when a lender gives their written commitment to a potential borrower. With a pre-approval, the lender checks your credit and verifies your financial and employment information and documentation.

With a pre-approval letter from your lender, real estate agents and sellers know you are a serious buyer. Your pre-approval letter proves that you already have the backing and the ability to go through with the sale, making you a much more attractive buyer to sellers.

Below are several reasons you will be glad you obtained a pre-approval for a mortgage before looking for homes for sale in Charlottesville VA:

 

1. It pinpoints a price range

With a mortgage pre-approval, you will learn how large a loan you would qualify for based on your financial history. You don’t have to waste your time looking at properties that are beyond your price range.

It also narrows down the neighborhoods you should consider. When you know your budget, you also know what areas you can afford. This way, you can find your dream home much faster.

 

2. It results in a higher acceptance rate

Sellers are less willing to accept offers from a buyer without a pre-approval. They don’t like it if they need to wait for a buyer to get approved for a mortgage before a serious offer can be made or accepted.
Sellers appreciate buyers who have been pre-approved because they can start negotiating right away. In addition, they may be more willing to lower the asking price, cover closing costs, or make adjustments to work with a pre-approved buyer.

 

3. It speeds up the process

If you aren’t pre-approved, you’ll spend more time looking for homes. You may get turned down once you’re ready to make an offer.

With a pre-approval, you have less to worry about. You’ll have fewer major hurdles to overcome.

 

Let me help you find your dream home!

Call me, Pam Dent, at 434-960-0161. I’m committed to helping you become a successful home buyer in Charlottesville VA!

 

Filed Under: Blog, Charlottesville Homes for Sale, Charlottesville VA Homes, Homes in Charlottesville VA, Pam Dent, Real Estate Properties for Sale in Charlottesville VA Tagged With: Charlottesville, Charlottesville home, Charlottesville homes, Charlottesville Homes for Sale, Charlottesville real estate, Charlottesville VA Homes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

My Specialties in Central Virginia

HORSE FARMS

GOLF COMMUNITIES

FOR SALE BY COUNTY

FOR SALE BY PRICE

FOR SALE BY ACREAGE

HISTORIC PROPERTIES

Blog Categories

  • Albemarle Country Homes for Sale (2)
  • Blog (425)
  • Brightwood VA Equestrian Homes for Sale (2)
  • Brightwood VA Equestrian Properties (2)
  • Central Virginia Historic Homes (7)
  • Central Virginia Homes (18)
  • Central Virginia Horse Farm for Sale (28)
  • Central Virginia Real Estate Properties (6)
  • Charlottesville (71)
  • Charlottesville Golf Communities (11)
  • Charlottesville Golf Community Homes (14)
  • Charlottesville Homes for Sale (53)
  • Charlottesville VA Homes (34)
  • Charlottesville VA Horse Farms for Sale (24)
  • Crozet VA Homes for Sale (1)
  • Earlysville VA Homes (3)
  • Earlysville VA Homes for Sale (4)
  • Equestrian news (43)
  • Equestrian Properties in Port Republic VA (1)
  • Farms and Estates (113)
  • Fluvanna County VA Homes (2)
  • Fluvanna VA Country Property for Sale (1)
  • Foreclosures (12)
  • Free Union VA Country Homes for Sale (4)
  • Free Union VA Homes (3)
  • Free Union VA Homes for Sale (3)
  • Glenmore (9)
  • go green (4)
  • Golf Communities (6)
  • Gordonsville VA Homes for Sale (4)
  • Gordonsville VA Horse Farm for Sale (2)
  • Green building (10)
  • Historic Central VA Home (4)
  • Historic Central Virginia Country Home for Sale (3)
  • Home selling tips (3)
  • Homes for Sale in Central Virginia (6)
  • Homes for Sale in Crozet (1)
  • Homes for Sale in Earlysville (1)
  • Homes for Sale in Keswick (3)
  • Homes for Sale in Lovingston VA (1)
  • Homes for sale in Palmyra VA (2)
  • Homes for Sale in Roseland VA (1)
  • Homes for Sale in Scottsville VA (2)
  • Homes in Charlottesville VA (20)
  • Homes in Free Union VA (3)
  • Homes in Lovingston VA (1)
  • Homes in Palmyra VA (3)
  • Homes in Roseland VA (1)
  • Homes in Somerset VA (3)
  • Horse Farm Properties for Sale in Brightwood VA (3)
  • Horse Farms for Sale in Charlottesville VA (8)
  • Information for buyers (119)
  • information for home owners (14)
  • Information for homeowners (16)
  • Information for sellers (66)
  • Keswick VA Homes (3)
  • Keswick VA Homes for Sale (4)
  • Listings (33)
  • Local events (23)
  • Louisa VA Homes (2)
  • Louisa VA Homes for Sale (2)
  • Lovingston (1)
  • Lovingston VA Homes (1)
  • Lovingston VA Homes for Sale (1)
  • Luxury Homes in Scottsville VA (2)
  • Market Reports (34)
  • Mortgages (6)
  • Neighborhoods (9)
  • open houses (3)
  • Palmyra VA homes (4)
  • Palmyra VA homes for sale (3)
  • Pam Dent (40)
  • Pet Friendly Real Estate (3)
  • Places to Go (5)
  • Rapidan VA Horse Farms (1)
  • Real Estate (101)
  • Real Estate Properties for Sale in Charlottesville VA (18)
  • Real Estate Properties for Sale in Crozet VA (1)
  • Real Estate Properties for Sale in Louisa VA (1)
  • Real Estate Properties for Sale in Troy VA (1)
  • Real Estate Properties in Charlottesville VA (10)
  • Real Estate Properties in Keswick VA (3)
  • Roseland VA Homes (1)
  • Roseland VA Homes for Sale (1)
  • Roseland VA Real Estate Properties for Sale (1)
  • Ruckersville VA Homes (2)
  • Ruckersville VA Homes for Sale (3)
  • schools (2)
  • Scottsville VA Homes (2)
  • Scottsville VA Homes for Sale (2)
  • Sold Listings (17)
  • Somerset VA Homes for Sale (4)
  • Staunton VA Historic Home for Sale (1)
  • Troy VA Homes (1)
  • Troy VA Homes for Sale (2)
  • Uncategorized (56)
  • Vacation homes (2)
  • Virginia (58)
  • Virginia Equestrian Property for Sale (20)
  • Virginia Historic Homes (7)
  • Virginia Horse Farms (25)

History

  • January 2021 (6)
  • December 2020 (1)
  • November 2020 (1)
  • October 2020 (2)
  • September 2020 (2)
  • August 2020 (3)
  • July 2020 (3)
  • June 2020 (1)
  • May 2020 (2)
  • April 2020 (3)
  • March 2020 (3)
  • February 2020 (1)
  • January 2020 (1)
  • November 2019 (1)
  • October 2019 (2)
  • August 2019 (3)
  • June 2019 (1)
  • April 2019 (1)
  • March 2019 (4)
  • February 2019 (4)
  • January 2019 (3)
  • December 2018 (1)
  • November 2018 (1)
  • October 2018 (2)
  • August 2018 (7)
  • July 2018 (5)
  • June 2018 (8)
  • May 2018 (3)
  • April 2018 (6)
  • March 2018 (10)
  • February 2018 (4)
  • January 2018 (13)
  • December 2017 (8)
  • November 2017 (3)
  • October 2017 (3)
  • September 2017 (3)
  • August 2017 (6)
  • July 2017 (7)
  • June 2017 (9)
  • May 2017 (4)
  • April 2017 (2)
  • March 2017 (4)
  • February 2017 (4)
  • January 2017 (1)
  • December 2016 (3)
  • November 2016 (1)
  • October 2016 (6)
  • September 2016 (2)
  • August 2016 (2)
  • July 2016 (1)
  • June 2016 (2)
  • March 2016 (2)
  • February 2016 (1)
  • January 2016 (2)
  • December 2015 (2)
  • November 2015 (1)
  • October 2015 (1)
  • September 2015 (3)
  • August 2015 (3)
  • July 2015 (4)
  • June 2015 (2)
  • April 2015 (1)
  • December 2014 (1)
  • November 2014 (1)
  • August 2014 (1)
  • February 2014 (1)
  • January 2014 (3)
  • December 2013 (1)
  • July 2013 (2)
  • March 2013 (1)
  • February 2013 (1)
  • December 2012 (1)
  • September 2012 (1)
  • August 2012 (2)
  • July 2012 (1)
  • June 2012 (4)
  • May 2012 (1)
  • April 2012 (1)
  • March 2012 (2)
  • February 2012 (4)
  • January 2012 (1)
  • December 2011 (3)
  • November 2011 (2)
  • October 2011 (2)
  • September 2011 (2)
  • August 2011 (2)
  • July 2011 (2)
  • June 2011 (3)
  • May 2011 (3)
  • April 2011 (3)
  • March 2011 (4)
  • February 2011 (3)
  • January 2011 (8)
  • December 2010 (5)
  • November 2010 (5)
  • October 2010 (3)
  • September 2010 (2)
  • August 2010 (8)
  • May 2010 (4)
  • April 2010 (1)
  • December 2009 (2)
  • November 2009 (5)
  • October 2009 (4)
  • September 2009 (3)
  • August 2009 (4)
  • July 2009 (3)
  • June 2009 (4)
  • May 2009 (5)
  • April 2009 (5)
  • March 2009 (9)
  • February 2009 (6)
  • January 2009 (13)
  • December 2008 (11)
  • November 2008 (13)
  • October 2008 (13)
  • September 2008 (12)
  • August 2008 (17)
  • July 2008 (22)
  • June 2008 (15)
  • May 2008 (1)

Areas of Expertise

  • Central Virgina Horse Properties
  • Keswick VA Horse Properties
  • Albermarle VA Horse Properties
  • Charlottesville VA Horse Farms

Social

  • Facebook
  • Google+
  • LinkedIn
  • Twitter
  • YouTube


Charlottesville VA Homes For Sale
Retire To Charlottesville VA
First Floor Bedroom Homes For Sale

Contact Pam

Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911


Real Estate Site Map

Copyright © 2016 All Rights Reserved