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Doesn't it make sense to be a preferred home buyer before you set out on the journey of shopping for a house? You don't know it yet but in a few short minutes, you are going to learn the most important secret to owning a home. Kate Explains Mortgage PreapprovalHi, my name is Kate and I'm a retired mortgage broker. I know the importance of homeownership.I should! I assisted thousands of folks just like you with mortgage financing for over 20 years. I made mortgage preapproval the top priority for each of my prospective home buyers. Don't let fear rob you of owning a home. Let me explain. Would you consider driving your car around town blindfolded because you're afraid you might crash? Of course not! That would be foolish. Yet some prospective home buyers avoid mortgage pre approval out of fear of rejection from the bank. As Our Beloved American Hero Babe Ruth Said"Never let the fear of striking out get in your way."Become A Preferred Home BuyerYou might be wondering what goes on during a mortgage pre approval.It's actually pretty simple. Pre approval means you'll get mortgage approval before you buy a home. It eliminates surprises and can make your offer more attractive to a seller. No wonder creative home buyers appreciate mortgage preapproval! The 3 C's...Cash, Credit And CollateralCash includes your savings, income and down payment.
Credit considers your history of paying bills and how much you owe today.
Collateral means the type of property you want to buy, like a condo or house.
Completing The Preapproval ProcessA lender might need additional information before your preapproval is completed. No two prospective home buyers are alike. So include an explanation if something is out of the ordinary about your situation. First impressions are lasting. Be complete with your paperwork the first time around.
Custom Search Once the process is finished, ask for a mortgage pre approval letter. It will state the approved purchase price and required down payment in writing. The mortgage pre approval letter will also discuss the proposed loan program, interest rate and monthly payment.
Welcome Home BuyersSo contact a lender today to begin your mortgage process. After all, it's your mortgage and your home. No one cares about it more than you!Remember Babe Ruth..."Never let the fear of striking out get in your way." In other words, you'll never get a hit sitting on the bench. There's nothing like mortgage preapproval to give both a seller and home buyer peace of mind. It makes a lot of sense that sellers welcome home buyers who already have a mortgage pre approval. Start here. Take the first step and begin today. It will make your home buying experience so easy. Go ahead and bookmark this page. This way you can easily return to review Kate's home buyer tips. The Best Mortgage Rate Blog By Kate is here. Check it out! It will keep you up to date on mortgage rates and additional tips to becoming a preferred home buyer. Valuable Home Buying ResourcesBuying A House Part OneThis might be your most important decision as a home buyer. Buying A House Part Two How I Picked A Realtor Tips For Highest Appraisals Pre Approval For Buying A House Mortgage Pre Approval Not Prequalification Personal Mortgage Planner Don't Miss A Word Of ThisFree Online Mortgage Advice - Become A Savvy Mortgage Shopper |
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