First Integrity Mortgage Services - Loan Officer Tim Whitmire: Why Pre-Approval Is Important.

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11Views - First Integrity Mortgage Services - Loan officer Tim Whitmire discusses pre-approval For information about home loans or mortgages in St. Louis, MO call (314) 402-8184.

Hi, I’m the mortgage guy, Tim Whitmire. Thanks for clicking on my channel.

On this video, I’m going to discuss why you need to get pre-approved and the importance of getting pre-approved prior to shopping for a home.

First of all: real estate agents typically are hesitant to work with you and show you homes if they don’t know you are a qualified buyer and sellers many times won’t even consider your offer if it isn’t accompanied with a pre-approval letter. Getting a pre-approval letter is a must. Providing a pre-approval letter from a reputable local lender strengthens your offer and helps you stand out above competing offers. Sellers want to know you have the ability to complete the transaction.

You should start the pre-approval process when you are first considering purchasing a home. The earlier the better - Ideally you want to start the process 3-6 months prior to the time you want to purchase your home.

Starting the process early will help you position yourself to qualify for the best mortgage possible. Home buyers have a lot of questions: How much do I qualify for? What are going to be my monthly payments? How much money do I need for closing? Should I pay down or pay off debts? Should I save for a larger down payment? What is my credit score?

Getting pre-approved provides clarity to all of these questions. Starting the pre-approval process early also allows me to help you avoid making common mistakes such as opening new credit, closing credit cards, changing jobs, etc.

I will put a specific plan in place and to give you goals to meet to help you put yourself in the best position possible to have a successful real estate transaction.

Last but not least, getting pre-approved allows you to learn about the many loan options that are available. Is your goal to have the lowest monthly payment possible or is your goal to pay as little interest as possible, or to avoid PMI? There are so many loan programs out there and it isn’t one size fits all. Getting pre-approved allows you to learn about your options so you can make the best decision for you and your family.

I’m here to help! Start the process today! Call me at (314) 402-8184 or email me at I look forward to working with you!