Pre-Approved!
Getting preapproval/prequalified is one of the most important steps in purchasing a home.
It’s EASY & FREE! Call today for your FREE pre-approval consultation.
Getting pre-approved can be a game changer when searching for your dream home.
While getting the process started may seem overwhelming, we’re here to make your pre-approval as simple and easy as possible. Let’s get started.
What You Need:
Let’s start with the basics. To get your mortgage off the ground, you’ll need to provide the names of the borrowers, as well as their current address and social security numbers. You’ll also need to provide a two year employment history and monthly gross income.
What Not To Do:
Just like knowing what to provide to get your mortgage started can be simple, so is knowing what not to do. During the mortgage process, this is a time to focus on finalizing your mortgage and not taking on new debts. That means not buying anything new on credit or allowing someone else to pull your credit score. Thinking about quitting your job? Not while you’re getting your mortgage. You also don’t want to make cash or non payroll deposits.
Simply, put all your attention on finalizing your mortgage.
Pre-Approval Facts:
A few things to remember when starting the mortgage process.
All borrowers must have qualifying credit and income to be able to qualify for a mortgage loan. Simply put, the bank needs to know you’ll pay off you debt. Also know that not all mortgages are the same. Some properties may qualify for different mortgage financing, so it’s important to consult with a real estate agent and loan officer. And remember, unless you have a 20% down payment, you may be required to escrow for your property taxes and homeowners insurance.
FAQ's
Don't forget about property taxes, homeowners insurance, and some programs that require monthly private mortgage insurance.