Secure a pre-approval from a lender
A pre-approval letter is simply a document issued by a lender which states that the lender is ready in principle to disburse a certain amount of mortgage to you at a certain rate of interest for the purchase of a house in Las Vegas. To secure a mortgage pre-approval letter, you need to submit your financial statements to the lender.
To get an idea of how much can you pre-qualify for, use this online Mortgage Pre-Qualification Calculator.
The lender also pulls your latest credit report before issuing the pre-approval letter. With this document in your hand, you can move ahead in your house hunt with confidence.
You know the amount of money the lender is ready to disburse. Also, your offer is taken seriously by the sellers as they know you have your financing in order. They give your offer preference over the offers of other buyers.
These are the reasons why you must obtain a pre-approval letter from a lender before starting your house hunt in Las Vegas.
