Why Does My Agent Want My Pre-approval Letter - EP201 - Homeownership

<p>In this weeks episode we discuss that your pre-approval letter is important to your agent to help guide you to the proper properties. Looking before can lead to frustration and let down if and when the budget changes. Your social security number and other confidential info is not on a pre-approval letter. The letter more so states the purchase price, down payment amounts, and any other restrictions the mortgage company may have on your purchase. If you have a home to sell in order to get a mortgage for the new home it will be listed on the pre-approval letter. This helps your agent understand if there is a need for a home sale contingency.</p>