One of the best things you can do to help ensure your best possible shot at getting the home you want is getting a pre-approved mortgage loan.
The interest rate you receive on a loan is directly tied to your FICO score. By raising your credit score you’re able to get a lower mortgage rate, meaning you’ll be approved for a higher loan amount. By getting just a half a percent lower rate on your loan could allow you to borrow thousands of dollars more.
Actively Shopping – Get a Mortgage Preapproval. Print Get preapproved to make your home purchase. A preapproval shows sellers you’re a serious buyer. Plus, you’ll get a better idea of your potential loan amount, monthly payment, and interest rate. Talk to a Consultant. Mortgage.
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Learn why you should consider getting a mortgage preapproval first and. and alerts you to problems that may affect your ability to get a loan.
After you receive the VA Certification, apply for a mortgage pre-approval through a lender. Only apply through lenders who are willing to deal with VA loans, since lenders aren’t required to offer these types of loans and only do so if VA loans fit within the lender’s mortgage loan portfolio.
In general, the paperwork you’ll need to assemble for your lender includes the following: Pay stubs from the past 30 days showing your year-to-date income Two years of federal tax returns Two years.
Nor does getting a pre-approval guarantee that a lender will approve you for a mortgage, especially if the financial, employment, and income status changes during the time between pre-approval and.
Get more than a preapproval. Getting approved before you start looking for a home will help you know what you can afford and close your loan faster.
Get a mortgage preapproval. A mortgage preapproval proves you’re a serious buyer. Get preapproved for your mortgage before you start shopping for a home. Largest FHA lender in the nation with a 1% down payment program for qualified buyers. Allows you to complete the process entirely online and gives a loan decision in minutes.