Preparing To Shop With Confidence

Dated: 02/13/2014

Views: 204

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

Oct 19 2018 5018 1

20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC]Some Highlights: When listing your house for sale, your top goal will be to get the home sold for the best price possible!

Read More

Oct 18 2018 5018 1

Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate?In a recent article, National Housing Inventory Crisis Reaches Inflection Point, realtor.comreported that: New

Read More

Oct 17 2018 5018 1

5 Tips for Starting Your Home SearchIn today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time

Read More

Oct 16 2018 5018 1

Baby Boomers are Downsizing, Are You Ready to Move?For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be

Read More