Your Local Michigan Mortgage Specialists

What’s the Right Time To Look Into Your Credit?

March 22nd, 2019 by Ima Admin

Are you a renter who hopes to one day own your dream home? Are you looking to move up from your starter home? Did something catch your eye driving by?

If you think you’ll even LOOK at a house for sale in West Michigan this year – or next — it’s time to take a closer look at your “real” credit score. That’s because you need to ensure your financial ducks are in a row BEFORE you can house-hunt with a mortgage pre-approval in hand.

In the tight real estate market Grand Rapids and West Michigan are currently experiencing, where multiple offers above asking price have become the norm, you cannot afford to be house hunting without a bona fide pre-approval in hand. Not a pre-qualification, a pre-approval. What’s the difference? Well, at Inlanta, a pre-approval means taking a deep look at your eligibility, your unique considerations, and going through initial underwriting to secure assurance that your loan will close and that you know exactly what to expect in terms of payments and closing costs.

By going through our Pre-Approval process, clients are then able to have us generate property and price-specific approval letters on demand. Not only does that make the offer stronger, but it is also a smarter way to negotiate. An open qualification letter that spells out your maximum leaves too much room for sign-backs, and at the same time, isn’t as confidence-inspiring as a bona fide pre-approval.

If you hope to be in the buying market this season or next, talk to one of the S.M.A.R.T. Mortgage Specialists at Inlanta Mortgage Michigan to get ready to win your bid on your dream home. It all starts with understanding your credit and your program eligibility. Contact us to get started.