A few years ago, becoming pre-approved for your home mortgage loan was a smart thing to do, but you could find a home and even get an offer accepted without it.

Now that's not the case.

With today's tighter lending standards, sellers want to know you have the ability to purchase before taking their homes off the market. Today, you have to prove that you have the credit and the income to support payments on the house you've chosen.

You can't blame the sellers for this attitude. Short sellers in particular are under a time crunch. If they take a chance on a buyer who ultimately can't close the purchase, they have to start all over. And in that time, their house may go to foreclosure.

And if you're hoping to purchase a bank-owned home, that pre-approval needs to be submitted along with the offer. Otherwise they won't even look at the offer.

So if you're planning to purchase a home, begin by meeting with a lender or a mortgage broker.

With your pre-approval in hand, you'll not only prove that you can purchase, you'll know exactly how much you can spend on that new home.

If you don't have a lender or a mortgage broker in mind, just get in touch. I'll be happy to give you a list of lenders and mortgage brokers who have served my clients well. (And yes, it is best to use a local lender or mortgage broker.)

Please call if you have questions,