Shopping for a Home Loan: Importance of PreApproval

A lot has happened in the mortgage market in the last month, with interest rates changing very rapidly, and the whole lending community working hard to adapt to the ever changing economic situation we are all facing. You may be asking yourself, “What do I do now, if I’m shopping for a home but the economy is uncertain or volatile?” Don’t panic- rather take this time to get your priorities in order.

First and most important, take a deep breath. While many are watching the news in fear unsure of what to do, we are staying up to date and informed to be your source of information and help when you are ready to move forward with a home purchase.

If you are a buyer and you are looking for a home that you will likely be occupying for the next 5+ years, then it’s a perfect time to buy! Rest assured, that there are plenty of sellers ready to take on this challenge, so bring your best offer in hand and get your Pre-Approval in place early!

If you are a seller- understand that there are many buyers eager to purchase as soon as the shelter in place is lifted. Overall there is still a high demand for homes. Due to a series of years of low supply in housing in the area, we are still seeing a lot of interest in housing activity right now.

At True Path Loans, we are working hard to stay open and available to help you through this process of purchasing your family a home.

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