Preparing To Shop With Confidence

Dated: 02/13/2014

Views: 199

Here’s why you should begin with a mortgage credit approval.
Since a pre-approval, unlike a pre-qualification, is based on your specific financial situation, it takes the mystery out of what you can afford. Not only will it help you understand which homes to consider, it will give any prospective seller more confidence in your ability to obtain a mortgage. (If you end up bidding on the same house as another buyer, your mortgage credit approval might even be the deciding factor in getting your offer accepted.)
You can get a same-day credit decision! Your Lender will help you determine the monthly payment you’re comfortable with and provide you with a mortgage credit decision before you shop for your home. In fact, by using basic information such as your income, debt, assets, and employment history, your Lender  is generally able to get you a credit decision within minutes. A Credit Approval Guarantee will specify the actual loan amount, as well as the loan type and term. The approval is subject to an acceptable appraisal of the home you eventually purchase.**You'll have many financing options to choose from. Your loan officier will help you determine which type of loan best fits your situation. Believe it or not, there are over 300 to choose from. While you probably won't need to consider more than a few, you should at least compare the advantages of a fixed rate mortgage with an adjustable one.
Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Feb 21 2018 5018 1

80% of Renters Believe Homeownership is a Part of Their American DreamAccording to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of

Read More

Feb 20 2018 5018 1

2 Ways to Get the Most Money from The Sale of Your HomeEvery homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the

Read More

Feb 19 2018 5018 1

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!Whether you are buying or selling a home it can be quite the adventure, which is why you need an

Read More

Feb 16 2018 5018 1

Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices &

Read More