The last few weeks have caused a huge health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of this virus. The rapid spread of the virus has been compared to prior pandemics
and outbreaks that havent been seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very much different from 2008.
Given this situation, if you are thinking about buying a home within the year, the best thing you can do now is use this time to get a pre approval for a mortgage, which you comfortably do the following two things when you’re ready to buy:
1. Gain a Aggressive AdvantageToday’s inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a good
offer and close the deal. Having a pre- approval shows the sellers you’re serious about buying a home, which is always a plus in your corner.
2. Speed Up The Home buying ProcessPre-approval can also speed-up the home buying process so you can move faster when you’re ready to make an offer. Being ready
to put your foot forward when the time comes may be just the thing you need to cross the finish line first and land the home of your dreams.