GETTING PRE-APPROVED

One of the first steps when looking for a new home or refinancing your current home is to determine how much money you will need to borrow and which loan programs are available to you.  The best way to do this is to get pre-approved for a loan or a set of loans.

Getting pre-approved gives you many benefits:

• It gives you an accurate estimate of how much money you are able to borrow.  The pre-approval will also let you know how much of a house you can actually afford.
• We will let you know up-front the monthly payment and closing costs you should expect.
• Knowing which loans you have been pre-approved for gives you a starting point to compare various loans that you can actually obtain (as opposed to "teaser rates" that may not be available).
• Most of the better real estate agents require that you have a pre-approval letter before showing you homes or before letting you place an offer on a house because having a pre-approval letter presents you as a strong buyer when you make an offer on a house.