Start House Hunting with a Mortgage Pre-Approval

Mortgage Pre-Approval

Before you start your home buying journey, the first thing you should do is get a mortgage pre-approval.

Why? Getting pre-approved gives you peace of mind knowing how much you can borrow and what your payment will be for the homes you like. That’s why getting pre-approved for a mortgage is a prudent thing to do “before” you start your home search.

This amount you can borrow is based on a number of factors. Basically its your gross income divided by the payments on your credit report plus your new mortgage payment.  A mortgage pre-approval is usually valid for 60 days and guarantees your financing is in place when you find the perfect home.

Once you hire a realtor they’ll need the mortgage pre-approval letter to start showing you homes you are interested in. Besides you’ll feel more confident that you can negotiate the right offer knowing your mortgage pre-acceptance is in place. If you need a recommendation for a proven trusted realtor be sure to ask your mortgage advisor.

While it doesn’t absolutely guarantee that your mortgage loan will be approved, getting mortgage home pre-approval upfront is smart for these reasons:

  • You can make a fast, confident offer on your ideal home
  • Get the home you can afford
  • You can lock in a rate to protect yourself once you find a home.
  • The rate’s guaranteed through the contract closing date.

Set your budget knowing what the term, amortization, and mortgage payments will be at time of approval.

For a step by step guide to prepare for your pre-approval grab the ebook “Simple Steps To Getting Home Loan Ready”” Click the image below to download.


Getting Home Loan Ready

Here’s how to apply

Click the link  to start the pre-approval process online now and have a licensed mortgage advisor start reviewing your application to determine how much you can borrow.

Schedule a call, choose a date and time that works best for you and we’ll call you then.

Or if you want to speak to a mortgage advisor now you can call (404) 238-7888

Documents to have for your first meeting on the phone:

  • 2 most recent W2’s (if you are self-employed, at least two years of tax returns)
  • 2 most recent pay stubs
  • 2 most recent bank statements (all pages) to show proof of down payment

 

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