[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fyc8mfa0kiy0f":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1548,"three-reasons-why-pre-approval-is-the-first-step-in-the-2020-homebuying-journey","Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey","When the number of buyers in the housing market \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F09\u002Ftheres-a-long-line-of-buyers-waiting-for-your-house\u002F\">outnumbers\u003C\u002Fa> the number of \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F16\u002Fhousing-inventory-vanishing-what-is-the-impact-on-you\u002F\">homes for sale\u003C\u002Fa>, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – \u003Cem>unless they stand out from the crowd\u003C\u002Fem>. Here are three reasons why pre-approval should be your first step in the homebuying process.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F01\u002F28134656\u002F20200203-KCM-Share.jpg","When the number of buyers in the housing market \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F09\u002Ftheres-a-long-line-of-buyers-waiting-for-your-house\u002F\">outnumbers\u003C\u002Fa> the number of \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F16\u002Fhousing-inventory-vanishing-what-is-the-impact-on-you\u002F\">homes for sale\u003C\u002Fa>, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – \u003Cem>unless they stand out from the crowd\u003C\u002Fem>. Here are three reasons why pre-approval should be your first step in the homebuying process.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>1. Gain a Competitive Advantage\u003C\u002Fstrong>\u003C\u002Fh4>\r\nLow \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F23\u002Fthe-1-reason-it-is-difficult-to-find-your-dream-home\u002F\">inventory\u003C\u002Fa>, like we have today, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the sellers you’re serious about buying a home, which is always a plus in your corner.\r\n\u003Ch4>\u003Cstrong>2. Accelerate the Homebuying Process\u003C\u002Fstrong>\u003C\u002Fh4>\r\nPre-approval can also speed up the homebuying process, so you can move faster when you’re ready to make an offer. In a competitive arena like we have today, being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.\r\n\u003Ch4>\u003Cstrong>3. Know What You Can Borrow and Afford\u003C\u002Fstrong>\u003C\u002Fh4>\r\nHere’s the other thing: if you’re pre-approved, you also have a better sense of your budget, what you can \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F20\u002Fmake-the-dream-of-homeownership-a-reality-in-2020\u002F\">afford\u003C\u002Fa>, and ultimately how much you’re eligible to borrow for your mortgage. This way, you’re less apt to fall in love with a home that may be out of your reach.\r\n\r\n\u003Cem>Freddie Mac\u003C\u002Fem> sets out the advantages of pre-approval in the \u003Ca href=\"http:\u002F\u002Fmyhome.freddiemac.com\u002Fbuy\u002Fget-pre-approved.html\">\u003Cem>My Home\u003C\u002Fem>\u003C\u002Fa> section of their website:\r\n\u003Cblockquote>\u003Cem>“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nLocal real estate \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2019\u002F12\u002F27\u002Fworking-with-a-local-real-estate-professional-makes-all-the-difference-infographic\u002F\">professionals\u003C\u002Fa> also have relationships with lenders who can help you through this process, so partnering with a trusted advisor will be key for that introduction. Once you select a lender, you’ll need to fill out their loan application and provide them with important \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F01\u002F24\u002F2020-homebuying-checklist\u002F\">information\u003C\u002Fa> regarding \u003Cem>“your credit, debt, work history, down payment and residential history.”\u003C\u002Fem>\r\n\r\n\u003Cem>Freddie Mac\u003C\u002Fem> also describes the \u003Cem>‘4 Cs’\u003C\u002Fem> that help determine the amount you’ll be qualified to borrow:\r\n\u003Col>\r\n \t\u003Cli>\u003Cstrong>Capacity: \u003C\u002Fstrong>Your current and future ability to make your payments\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Capital or Cash Reserves: \u003C\u002Fstrong>The money, savings, and investments you have that can be sold quickly for cash\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Collateral: \u003C\u002Fstrong>The home, or type of home, that you would like to purchase\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Credit: \u003C\u002Fstrong>Your history of paying bills and other debts on time\u003C\u002Fli>\r\n\u003C\u002Fol>\r\nWhile there are still many additional steps you’ll need to take in the homebuying process, it’s clear why pre-approval is always the best place to begin. It’s your chance to gain the competitive edge you may need if you’re serious about owning a home.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nGetting started with pre-approval is a great way to begin the homebuying journey. Let’s get together today to make sure you’re on the fastest path to homeownership.","\r\nGetting started with pre-approval is a great way to begin the homebuying journey. Let’s get together today to make sure you’re on the fastest path to homeownership.",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},38,"Move-Up","move-up","2020-02-03T10:00:06Z","2020-03-26T15:20:22Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},1547,"5-reasons-homeowners-throw-better-parties-during-the-big-game-infographic","5 Reasons Homeowners Throw Better Parties During the Big Game [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F01\u002F30123358\u002F20200131-KCM-Share.jpg","2020-01-31T11:00:45Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},1549,"how-to-avoid-a-gender-gap-when-investing-in-the-housing-market","How to Avoid a Gender Gap When Investing in the Housing Market","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F01\u002F30145238\u002F20200204-KCM-Share.jpg","2020-02-04T10:00:27Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,68,69,73,77,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":25,"name":26,"slug":27},{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]