If you
are beginning your new home search, we suggest you obtain a pre-approval
for your mortgage loan. Don't confuse a pre-approval with a pre-qualification.
They are not the same.
A pre-qualification simply determines how much you can borrow based on your
income and debts. It is usually a quick calculation to provide an idea of
how much house you can afford.
Pre-approval has more depth. Credit history is requested and an application
is completed either over the telephone or with our secure quick application
on line. Additional verification such as a recent paystub, bank statement,
investment account statements will be necessary. Fax copies are acceptable.
With this information you will be approved to borrow a specific amount of
money.
Pre-approval also allows the rest of the mortgage process to proceed more
quickly. Pre-approval could also assist in convincing the seller to accept
your offer knowing that you are already approved and able to close.
Prior to closing, the home will require a satisfactory appraisal, title search,
survey, and pest inspection. There may be additional inspections depending
on the location of the home you purchase.
How
It Works
When
you qualify using our
Pre-Approval
application, we'll approve you for your mortgage financing. This gives
agents and sellers confidence that you can meet the obligation of a sales
contract. This will also give you a negotiating advantage.
Our
Online Application Is Secured |
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