Perks of a Pre-Approved Santa Cruz Home Loan

Posted by Lauren Spencer on Thursday, March 24th, 2011 at 11:01pm.

Looking to buy a new house? Do you have a specified budget in place? Are you going to need to take out a loan? In such a tumultuous real estate market, there are many frustrating financial hurdles that you need to jump before you can purchase your Santa Cruz home. However, with a pre-approved loan you could reduce stress and move in quicker.

A pre-approved loan is when a bank provides you with an amount they would be willing to lend you for a Santa Cruz home and a period of time for which this offer is good. They determine this amount based on several criteria that you must provide and prove, such as your current income, bank statements, income tax returns and credit history.



Perks from pre-approval

• Know what you can afford –Using a mortgage calculator, you can see an estimate of the monthly mortgage payment to help you determine if it is within your budget.  By obtaining a pre-approved loan, you’ll know exactly how much money you can spend on a house.

• Gain credibility – Real estate agents and sellers take you more seriously if they have proof that you can come up with the money to purchase the property.

• Save time – When you know exactly how much you can spend, you won’t waste your time looking at houses out of your price range. This allows you to spend more time scrutinizing the houses you can afford.

• Close quicker – With a pre-approved loan, you’ve already completed part of the time consuming work toward getting your mortgage. Without pre-approval, you might endure heartache if you find your dream Santa Cruz home, but can’t find the funds.

If you’re searching for a Santa Cruz home without a pre-approved loan, stop wasting time. Analyze your income, talk with a lender and get pre-approved before beginning the house hunt.


Need a referral to a reputable mortgage provider?  Give me a call today at 831-662 6522 or email me at


For more information, please visit my website at




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About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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