Why Pre-Approval Is Key for Homebuyers in 2022

Wednesday, January 26th, 2022
Barb Modde

You may have heard that it’s important to get pre-approved for a mortgage at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a pre-approval letter prior to making an offer. Here’s why.

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If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022.

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One thing that many people like about this part of the Midwest is the change of seasons. But those moving from warmer climates might wonder what there is to do all winter besides hibernate and wait for spring. Even those who have lived in Missouri or Illinois for a long time might be looking for something new to do in the cold, dreary months following the holidays. 

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