Franklin First Federal Credit Union Blog

When looking to take out a large loan, having a written pre-approval in hand is crucial.

Here’s why…

First, you’ll know what you can afford, making pre-approval a way to simplify your search.

Next, don’t get taken for a ride. When you’re unsure about how much you can spend on a vehicle, the dealer may try to get you to spend more than you can afford. Show them a preapproval letter, and they will have to offer you cars with price tags that fit within your loan amount.

Third, ensure that you’re taken seriously. Having that information in hand shows you’re ready to buy.

Finally, purchase your dream home. If you’re house-hunting in a competitive market, having your pre-approval will give you a leg up on bidding wars.

Get pre-approved today to avoid disappointment later!

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