You've done your calculations and you
know how much you feel you can afford. But, will the bank agree? Don't
get caught in a situation where you decide on a house, but can't get
the mortgage. Talk to your mortgage broker beforehand and get
Pre-Approved so you know exactly how much a lending institution will
lend you.
In the pre-approval process, you'll
find out:
Exactly how much you can afford
How much cash down payment you'll
need
Estimated closing costs
Different types of mortgages (30
Year, ARM's , interest only, etc.)
When you finally decide on a new home,
and make an offer to purchase, submitting a Pre-Approval form along
with the contract tells the seller(s) that you are a serious buyer,
and that you are able to afford to buy their house. Many sellers will
not entertain an offer that does not include a Pre-Approval.
We can help you get Pre-Approved by
referring you to a reputable mortgage broker. If you would like our
help with this,
Contact Bunny and Art.
