A borrower's guide to impressing a mortgage lender

Posted: Tuesday, March 5, 2013 12:00 am | Updated: 2:33 am, Tue Mar 12, 2013.

(BPT) - Who doesn’t like to make a good impression? Whether it’s a first date, meeting the future in-laws for the first time or interviewing for a job, making a good first impression can pave the way for some of life’s happiest experiences. That’s especially true for home-buyers, whose ability to secure their dream home depends on first impressing a mortgage lender.

In many areas of the country a seller’s market is emerging, with lower inventory of desirable homes and rising prices, according to the National Association of Realtors. That means increased competition for buyers, and more sellers giving preference to buyers who approach the bargaining table with their finances in order. Real estate experts and finance pros alike agree: It pays to get pre-approved for a mortgage when you’re in the market to buy a home.