Issue link: http://read.uberflip.com/i/1502478
WWW.IDAHOFALLSMAGAZINE.COM 41 Purchasing a home is a significant financial deci- sion, and careful planning and preparation are cru- cial, especially during the busy summer shopping season. Take these stats: • As of June 2023, there are 282 homes currently listed for sale • Average days on market is 66 • Active list price in Bonneville County is $527,483 • e last six months, there have been 699 active listings in Bonneville County "We are currently seeing a shi in our local mar- ket. at's where it's essential to work with a mort- gage lender and consider a full pre-approval when shopping for homes," says Jace Wright, Director of Sales and Licensed Realtor for Top-Notch Real Es- tate. "It just makes the experience so much better for everyone involved." A mortgage pre-approval is a preliminary as- sessment conducted by a lender to determine the maximum loan amount they are willing to lend you for a home purchase. is assessment involves a thorough review of your financial background, including your credit score, in- come, and debt-to-income ratio. Once approved, you receive a pre-approval letter specifying the maximum loan amount you can borrow. A few other benefits to consider a mortgage pre-approval: • Establishes a realistic budget for your home search, saving time and potential disappointment • Strengthens your negotiating power • Expedites your closing process with fewer complications During the pre-approval process, your credit report will be reviewed, presenting an opportu- nity to identify and address any credit issues or errors. is can lead to an improved credit score and increase your chances of obtaining a favorable mortgage rate. It is important to note that mortgage pre-approval does not bind you to a specific lender. It simply gives you a better understanding of your financial position and the amount you can borrow. Armed with this information, you can shop around and compare mortgage rates and terms from different lenders to secure the best possible deal. For the new way to get a home loan, consider con- tacting Good Co. at 208.520.5285 or visiting good- cobroker.com. Good Co. Broker Club is an Equal Housing Lender and NMLS #2440270. If you have any questions about listing or selling your home, reach out to Jace Wright at Top-Notch Real Estate at 208-716-8684. Bonneville County Market Updates & The Im- portance of A Mortgage Pre-Approval: What You Need to Know By Tyler Kraupp, Good Co. Broker CEO/Founder IF REAL ESTATE