pre-approval

The easy way to get preapproved for a mortgage

Preapproval is how much a lender is willing to lend you to purchase a home, based on your credit and financial strength. While preapproval is just an estimate of how much mortgage you can afford, it’s one of the most important steps in the home-buying process. With a preapproval letter in hand, you can demonstrate to any real estate agent that you have the ability to pay for a house he or she shows you. In fact, many real estate agents won’t let you place a bid on a home without preapproval.

Tags: 

Should You Get Pre-Approval For Your Mortgage?

Should You Get Pre-Approval For Your Mortgage?

You are ready to take the plunge into home ownership. You’ve already started browsing the home listing websites and have put together your “must have” list. But if you are like many first-time home buyers, you may not have thought that much about your mortgage. Find out why getting pre-approval now is a good idea, and what could happen if you skip this very important step.

Tags: