Denver Home Buyers really need to know this:

6 Great Reasons To Be Pre-Approved By A Lender

You appear to be cash to the home seller. Short of the property being appraised, you have had all of the background work complete, and aren’t trying to do things at the last minute with the lender, and possibly lose the home that you love, because you aren’t ready.
You will know in advance what your payments will be.
You won’t waste time considering homes you cannot afford.
You can select the best loan package without being under pressure. There are many options to choose from in today’s market.
Sellers may find your offer to purchase more favorable if they know in advance of your ability to secure financing. This may make your offer more competitive if you are in competition with other offers.
Peace of mind. You know what you can and cannot afford, and that the loan will close allowing you to move into your new home.

Here is my best bit of advice:

Take the pre-qualification one step further and get a full loan approval.
This is the best approach as you can negotiate as though you have all cash!
And Sellers respond with better terms!


Do not buy lots of stuff on credit before you close on your new home. Pay cash or use lay-away.

And 3rd Best bit of Advice:

Use a local lender.
In 2009, 80% of the out of town lenders that I was involved with, either as a buyers agent or representing the seller closed an average of 6 days late. Be honest, could you afford 6 days of storage? ALL (100%) of the local lenders closed on time.