Mortgage Pre Approval
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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 Preapproval
Hi, 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 Buyer
You 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 Collateral
Cash includes your savings, income and down payment.
Tip: Keep your bank statements, paystubs and tax records. Save money using Kate's mortgage checklist.
Credit considers your history of paying bills and how much you owe today.
Tip: Ask for a copy of your credit report. Review it for accuracy.
Collateral means the type of property you want to buy, like a condo or house.
Tip: It's easier to get a mortgage if you're going to live in the home.
Completing The Preapproval Process
A 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. Tip: Here's how to find your best mortgage lender and low mortgage payments.
Tip: You can also use this toolbar to search. Enter your subject and you'll be instantly guided to the information you're seeking.
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.
Tip: Sellers often ask for a copy of your letter. Keep the original for your records.
Welcome Home Buyers
So 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 Resources
Buying A House Part OneThis might be your most important decision as a home buyer.
Buying A House Part Two
This is your second most important decision as a home buyer.
How I Picked A Realtor
Enjoy one home buyer's story of choosing a Realtor.
Tips For Highest Appraisals
How to better your chances of getting the highest appraised value.
Pre Approval For Buying A House
A Visitor asks for help buying a first home.
Mortgage Pre Approval Not Prequalification
A Reader shows how to jump to the front of the mortgage line.
Personal Mortgage Planner
Get you ducks lined up before calling a lender.
Don't Miss A Word Of This
More Unique Home Buyer Tips From Kate
Free Online Mortgage Advice - Become A Savvy Mortgage ShopperHow Much In A Mortgage Can I Afford?
Reducing Mortgage Closing Costs - Little Known Secrets
Save Money - Compare Mortgage Interest Rates
Kate's Mortgage Rate Lock Guarantee
Tip: You can also use this toolbar to search. Enter your subject and you'll be instantly guided to the information you're seeking.
