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 eBook

Here’s how to apply for pre-approval

Fill out the simple Quick Quote form above to start the pre-approval process now. A licensed mortgage advisor start reviewing your application to determine how much you can borrow.

Or if you want to speak directly 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