Know exactly what you can afford before you start searching for a home.
Need financing options on a home, or other real estate? Choosing a purchase loan product that matches your goals and making sure you get the best rate for your given scenario can feel like playing whack-a-mole.
We're here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with a FREE pre−approval letter request.
We'll help you clearly see the differences between loan programs, allowing you to choose the right one for you whether you're a first-time home buyer or a seasoned investor.
Here's how our home purchase loan process works:
Determining if you qualify for a mortgage involves evaluating several key factors. Next, here's a brief overview of what we typically consider when assessing your eligibility:
To know if you qualify for a mortgage, it's best to call us and we can review your specific financial situation and guide you through the pre-approval process. Getting pre-approved will provide you with a clear understanding of the loan amount and terms you qualify for, making the home-buying process smoother and more efficient.
Before applying for a mortgage pre-approval, it's essential to review your credit report and credit score. We will use this information to determine your creditworthiness and the interest rate you qualify for. Make sure your credit report is accurate and dispute any errors you find. Furthermore, if your credit score is less than ideal consider taking steps to improve it before applying for a mortgage pre-approval. What's more, we provide a service that utilizes our Credit Expert System to run and analyze your credit identifying all the quick actions you can take to rapidly boost your credit score and qualify for the most favorable rates.
To assess your financial situation, we require several documents. Start gathering these documents ahead of time to expedite the pre-approval process:
You can start the pre-approval process by completing an application. We offer an online application, making it easy for you to securely apply and upload your documents. You will need to provide personal and financial details. We will let you know exactly what we need after we run your loan application through the Automated Underwriting System (AUS).
Once you are pre-approved, we will provide you with a pre-approval letter, which details the loan amount, interest rate, and other terms. This letter is typically valid for 60 to 90 days. Equally important, when making an offer on a property, including a copy of your pre-approval letter can show sellers that you are a serious and qualified buyer. In addition, we will collaborate closely with your Real Estate Agent to furnish a tailored preapproval letter for each offer, which will maximize your chances of having the offer accepted.
Getting pre-approved for a mortgage is an essential step in the home-buying process. It not only helps you determine your budget but also strengthens your position as a buyer. By following these steps and working closely with a Homeowners Mortgage and Equity, you can confidently navigate the journey toward homeownership.
If you have any questions or need assistance with the mortgage pre-approval process, don't hesitate to reach out to our knowledgeable team. You can call, email, or text us, and we will be more than happy to help you get started on your path to purchasing a new home.
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below: