Got the Pre-approval letter, Now what?

You have taken that leap to get pre-approved for a home or property loan so that you are a strong contender in the your search for the perfect home. Perhaps you are a little confused as what to do now. Here are some very helpful suggestions for First time buyers and Seasoned buyers.


Now that you have that approval, if you have not interviewed a REALTOR® yet, you can either do a simple google search, visit a local Real Estate office, or ask for a recommendation from friends or family. Don’t stop there though. Sit down or do a “Zoom” call with your prospective REALTOR® because you are Hiring them to advise and assist you on your journey to find the “perfect for you” home.

Already have a REALTOR® hired? Grab your Pre-Approval and get with your REALTOR® to talk about your must haves, your budget, what you are Pre-Approved for and ask questions about how offers and deals will be presented. Let the Home Exploring Begin!


When you got pre-approved, there is a good chance you found out what your Credit Score and Credit History looks like. The Loan officer may have stroked your Ego a little bit with that Score card and dollar amount you been pre-approved for. It may give your urge to use that new found information to run out and make some big purchases or open a new line of Credit. STOP!!!! It is not the time to open a new line of credit or purchase that Car to go with the garage you hope comes with your new home. Your pre-approval was based on your current credit score and history, but remember, this is just a pre-approval and your lender is going to pull your credit report before your close on your new home or property. Taking out another loan, opening a new line of credit, increasing your credit balance , or starting to make late payments; there is a strong possibility of losing your pre-approved loan amount or you may actually get denied the loan . Lenders want to see that your behavior patterns are consistent and can be relied upon for future payments.


Dollar signs my be flashing in front of your eyes with the amount you have been pre-approved for. Just because you are pre-approved for that amount, that amount may not work for your budget(life happens). Before you go in all guns blazing with a offer, make sure you have a budget and that your offer and the loan you will take out fits in your budget. That means you should plan for expected and unexpected home maintenance cost. You could be sitting in your dream home enjoying life and your refrigerator that was gifted to you by a family member decides it time to not work anymore and spits out the water line and floods your kitchen. Yep there is more to owning a house besides the purchase price and monthly payment. Don’t go over budget just because your pre-approval makes it appear that you can. It may take a while, but there is a new home or property out there what will be safely in your budget

I am a Realtor with Five Star Real Estate

Matt Dunfield

(269) 491- 0161 or

2750 Old Centre Rd # 140

Portage, Mi 49024

I look forward to helping you List or Buy your new home or property.

Beautiful….. but is it in the budget?

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