Smarts Ad Media Blog

I always thought that the process of getting preapproved for a mortgage was a waste of time.  It didn’t really matter, I thought, until you actually needed a mortgage.  Our personal home buying experience of the past year has proven me wrong, however.  Since the seller was a bank, they were requiring a loan commitment letter in order to even consider an offer.  Since we already had that letter, it was a piece of cake to just submit it with the other paperwork.  Another competing offer came in at the same time as ours that was higher than ours, but because they didn’t have the paperwork, it was rejected, and we got the house!