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Updated over 9 years ago,
Pre-Approval Concerns
Hello BP,
I was encouraged to get my financing in place prior to submitting any offers on potential deals prior to submitting offers considering most Realtors/Sellers won't submit/accept offers from investors/buyers that don't already have financing in place (or a pre-approval letter from the financing source) accompanying the offer. So my question is:
1. If I get pre-approved (in order to get this letter) now but I don't find a deal, would'nt my pre-approval expire in a certain time and if I have to do that a few times won't that affect my credit score negatively?
I can see that not being too much of an issue if I plan on using Hard Money lenders and Private lenders but what if I am planning on using a conventional lender?
Thank you guys....