Why Get Pre-Approved?
Why should you get pre-approved for a loan before house searching?
- It helps narrow the search for your new house knowing what you can afford. Who wants to waste hours and hours looking at houses outside his or her budget?
- It speeds up the process of closing the deal. Instead of scrambling to find a lender, you come to the game prepared.
- It may make a difference on whether your offer is accepted or not! Buyers who are already approved or are paying with cash look better to sellers.
How to Get Pre-Approved
Your best option is to give your local bank or mortgage company a call and ask them about getting pre-approved for a house. We recommend sticking with a bank or mortgage company that you have used in the past or know personally. He or she will then guide you through the process of getting approved for purchasing a house.
I Don’t Have a Lender I Know
If you don’t have a lender you have a relationship with then here are a few local mortgage lenders we can recommend:
- IU Credit Union – www.iucu.org
- Owen County State Bank – www.ocsbank.com
- Our Community Bank – www.owencom.com
- Peoples State Bank – www.psbanywhere.com
- Old National Bank – www.oldnational.com