Marc: Hey guys, I’m so excited because we have Laura the mortgage expert at Access Credit Union and she’s talking to us why we need to be pre-approved for a mortgage. I got to say, that’s a an age-old question. Do you get pre-approved or do you just kind of go out there and put an offer and then go see the bank?
Laura: That’s a really great question and people ask us that all the time. It’s really important to get pre-approved because you want to talk to an expert that can guide you to all the steps that take place when you’re purchasing a home. So, that when you are out shopping for that home and working. If you’re a realtor, you’ve got the confidence in yourself that what you’re looking to purchase you can in fact qualify, So, really, what we encourage our members to do is to come in and have those conversations with us. And getting pre-approved, it allows you to know what’s your borrowing capacity and what kind of monthly payments are you comfortable paying. What we can qualify you for and what you actually want to pay may not be the same thing. It also allows us to lock in an interest rate for you so that you can have the confidence that that interest rate that we talked about today we’ve locked in for a period of time allowing you more confidence when you’re out there deciding what you want to pay for this particular house.
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