Getting a Mortgage Pre-Approval
If you are looking for a new home, be sure you are
pre-approved. With a mortgage pre-approval, a licensed mortgage professional
can do a more complete verification prior to sending you shopping for a home,
and with that done, the dollar figure you are going shopping with is actually
what you can spend.
The mortgage professional that you work with to get
pre-approved will let you know for certain what you can afford based on lender
and insurer criteria, and what your payments on a specific mortgage will be.
Licensed mortgage professionals can lock-in an interest rate
for you for anywhere from 60 – 120 days while you shop for your perfect home.
By locking in an interest rate, you are guaranteed to get a mortgage for at
least that rate or better. If interest rates drop, your locked-in rate will
drop as well. However, if the interest rates go up, your locked-in interest
rate will not, ensuring you get the best rate throughout the mortgage
pre-approval process.
In order to get pre-approved for a mortgage, a mortgage
professional requires a short list of information that will allow them to
determine your buying power. A mortgage professional will explain to you the
benefits of shorter or longer mortgage terms, the latest programs available,
which mortgage products they believe will most likely meet your needs the best,
plus they will review all of the other costs involved with purchasing a home.
Getting pre-approved for a mortgage is something every
potential home buyer should do before going shopping for a new home. A
pre-approval will give you the confidence of knowing that financing is
available, and it can put you in a very positive negotiation position against
other home buyers who aren’t pre-approved.
At Harmony Mortgage Group our licensed professionals do more than just run numbers. With over 20 years experience in Mortgage lending you can rest assure your individual questions and mortgage needs will be well taken care of. We specialize in first time homebuyers and work with many different realtors with strengths to fit anyone's situation.
HarmonyMortgage@gmail.com
toll free 1-888-755-1126
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