11 de julho de 2022
Categoria: Sem categoria You`ve found the perfect house and you`re ready to make an offer. But wait, do you have an agreement in principle? And if so, can you use it to make an offer on a house?
An agreement in principle is a document provided by a lender that outlines how much they are willing to lend you based on your personal and financial information. It`s not a guarantee that you`ll be approved for a mortgage, but it can give you an idea of how much you can afford to spend on a house.
So, can you use an agreement in principle to make an offer on a house? The short answer is yes, you can. In fact, some agents and sellers may ask to see your agreement in principle before considering your offer.
Having an agreement in principle shows that you`re serious about buying a house and that you`ve already taken steps towards securing a mortgage. It can also help to speed up the buying process as you`ll have an idea of how much you can afford to spend.
But it`s important to remember that an agreement in principle is not a guarantee that you`ll be approved for a mortgage. Your lender will still need to verify your income and creditworthiness before they approve your application.
When making an offer on a house with an agreement in principle, it`s important to make sure the offer is within the amount you`ve been pre-approved for. You don`t want to make an offer on a house that you can`t afford to buy.
In summary, having an agreement in principle can be helpful when making an offer on a house. It shows that you`re serious about buying and can give you an idea of how much you can afford to spend. However, it`s important to remember that it`s not a guarantee that you`ll be approved for a mortgage and you`ll still need to undergo the lender`s application process.