Mortgage pre-approval is the starting point to owning your dream home! Doesn't it make sense to become a preferred home buyer before setting out on the journey of shopping for a house? Since serious sellers insist on pre-approved buyers, you should insist on it too!
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 pre-approval the top priority for each of my prospective home buyers.
Even so, many home buyers avoid getting pre-approved out of fear of rejection from the bank. That's why I say don't let fear rob you of owning a home.
Or as our beloved American hero said...
Never let the fear of striking out get in your way. -- Babe Ruth
You might be wondering how you get pre-approved.
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 pre-approval!
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.
Tip: It's easier to get a mortgage if you're going to live in the home.
A lender might need additional information before your mortgage pre-approval 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.
Once the process is finished, ask for a letter of pre-approval. It will state the approved purchase price and required down payment in writing. The 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.
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 a pre-approval certificate to give both a seller and home buyer peace of mind. It makes a lot of sense that sellers welcome home buyers who have already been pre-approved.
Start here. Take the first step and begin today. It will make your home buying experience so easy.
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How To Buy A House Part 1 Meet your real estate agent and save yourself heartache and headache.
How To Buy A House Part 2 Meet your mortgage lender - Expect more than quoting the lowest rate or taking an application.
Check out List Of Mortgage Companies, a local lender directory.
How To Get A Mortgage Part 3 Meet your home inspector and avoid buying a money pit.
How To Get A Mortgage Part 4 Meet your real estate appraiser - Does an appraisal assures you of a good deal?
How To Get A Mortgage Part 5 Meet your title insurance companies for coverage resulting in peace of mind.
How To Get A Mortgage Part 6 Meet your homeowners insurance agent because there is more to it than the cheapest quote.
How To Get A Mortgage Part 7 Meet your escrow and HUD 1 statement, the guardian of your real estate transactions.
Title, Abstract Services and Escrow Agents service provider directory - Please visit!
How To Buy A House Questions and Answers - Part II.
How To Buy A House Questions and Answers - Part I.