Getting Pre-Approved
Before starting to look at homes, there are many reasons for a buyer to get pre-approved by a lender. There are many lenders from which to obtain a home loan including banks, credit unions, mortgage companies and mortgage brokers. Getting pre-approved will allow a buyer to determine which loan program will best fit their needs and for what types of programs they qualify. The lender will give the buyer an estimate of what the payments, closing costs and down payment will be. Your offer will be more attractive to a seller if you have successfully obtained a lender's conditional loan approval.
If you are a first-time buyer you may be able to qualify for special first-time buyer programs. This could also make your home more affordable. Some of these programs may even allow you to borrow your closing cost, which allows you to purchase a property with little or no money down.
Contact eHome Realty for Lenders offering complimentary pre-approval
