Beacon Hill Condo Buyers: The Importance Pf Pre-approval Boston Condos For Sale Ford Realty

Consulting with a mortgage lender is the first step you should undertake in the Beacon Hill condo buying process. Almost all first-time buyers need a mortgage to finance their Beacon Hill home purchase, so be prepared before you look. When you’re armed with the knowledge of what you can afford, it focuses your search and allows you to make a move when you find a home you love.

Lenders offer borrowers either a pre-qualification letter or a pre-approval letter, but most REALTORS® recommend getting a pre-approval letter before you start Beacon Hill condo shopping.

A pre-qualification letter states the amount a lender thinks you’ll be able to borrow based on your income and credit profile without any actual documentation.

However, mortgage lending standards have tightened since the housing crisis, and all mortgage loans now require full documentation and verification of income and assets. In Boston condo market you need to submit a pre-approval letter or proof of funds when making an offer. The terms your lender provides and their ability to close on time is critical when competing with multiple offers. Contact me to find out the preferred lenders in Boston based on the property type.

Boston condos for sale near Beacon Hill

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Beacon Hill condo buyers: The importance pf pre-approval

Boston condos for sale near Beacon Hill

Condos around the Beacon Hill area to rent:

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