Solidify Your Financing Ahead of Time
TBD approvals are for buyers looking to obtain financing to the furthest extent possible without having yet identified a property. Income, assets, credit, and more are all examined and qualified before a property is chosen.
A TBD approval can allow a buyer to have more confidence throughout the buying process, knowing that they are already underwritten for a loan before they purchase an appraisal. Sellers generally have less issues with a TBD approved buyer, and real estate agents know they have a solid buyer before writing up offers on potential homes.