The Importance of Mortgage Pre-Approval in San Jose for Stronger Negotiations

When you are ready to purchase a home in San Jose, it makes sense to negotiate from the most vital position possible. In a robust San Jose real estate market, sellers can be more selective in the final buyer they choose to deal with. In such a competitive seller's market, it's not uncommon for a San Jose home seller to receive multiple offers on their property. With that said, there are certain things you can do to ensure that your offer is the one the seller goes with.

Most San Jose buyers today go about the process entirely wrong, putting themselves at an overwhelming disadvantage!

Let's look at this from the seller's perspective for a moment. If you were the seller and had multiple offers on your San Jose property, all things being equal, would you accept the one with a Certificate of Financing Approval or the one still conditional on financing? The answer is obvious. Why do so many buyers wait to start the funding until they have found the home?

Even though most people will eventually be approved, having a Certificate of Financing Approval allows the San Jose real estate seller to accept your offer over competing offers that still require financing approval.

Lastly, from Trade My Home's cost savings perspective…

As a prospective San Jose purchaser, starting the financing early on makes all the more sense so you can get a firm handle on your interest rate and estimate of points and closing costs. If you do this before finding a home, you are not under any time constraints and are less likely to overpay like a buyer who has found a home under strict time constraints.

How Mortgage Pre-Approval in San Jose Can Save You Money

If you wish to get pre-approved from Trade My Home, complete the form on this page. The system will forward your information to a certified mortgage professional who can assist you in locating the best mortgage rate and lowest closing costs.