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Do I need to be pre-approved before I find an agent?

Do I need a mortgage preapproval before I find an agent? I have a general idea of budget, so can I start looking at homes while I work on preapproval? Or will an agent not want to work with me if I'm not preapproved?

Asked By Morgan | Santa Ana, CA | 100 views | Buying | 3 months ago

Answer(2)

Pro

86 Answers

Julianne Clark | Your Lowcountry Compass

Charter One Realty

(47)

If you are not pre-approved -- your agent will recommend that you speak with a lender prior to scheduling home tours. (They may even have some suggestions of local lenders to contact.) Price range is only part of your home search. The type of financing and special requirements (such as closing cost assistance) needs to be know before house hunting. If you qualify for a 100% financing loan -- the condition and location of the home that you can buy with that financing matters. No one wants to fall in love with a house that they cannot buy. If you are a serious Buyer, then getting approved is a very important first part of the process -- otherwise you are window shopping.