Before you begin to shop for a new home, setting up a meeting to get pre-approved should be your first stop. In our meeting, we will review your information, assess goals for a down payment, determine your loan options and which loan program could work best for you. With a pre-approval you will receive a letter to take with you.
Getting a pre-approval letter for your mortgage loan will not only give you the ability to shop for your new home with confidence but it may give you a competitive advantage when making a bid or offer on a home.
The pre-approval letter we provide you allows the Real Estate Agents and the sellers to accept your offer with confidence knowing you have already taken the first step towards mortgage financing.
A pre-approval letter is not binding on the lender; it is subject to an appraisal of the home and certain other conditions. If your financial situation changes (e.g. you lose your job), interest rates rise or a specified expiration date passes, we will need to review your situation and recalculate your pre-approved mortgage amount.
Many home buyers have been facing a very challenging market over the past few years. The current supply of homes on the market just can’t keep up with the huge demand out there. It’s not uncommon for a home to come on the market and be sold in a matter of days after receiving multiple offers. With this fierce competition, prices have increased substantially over the last few years and has made it challenging for home buyers to find a home within the budget/payment they had planned for. Many go over budget to get the home they want only to have another blow to that budget the following year due to the property tax increase. This increase on the property tax portion of the mortgage payment can really hurt home owners enough to create a financial strain.Visit Jeremy's Blog