After you’ve settled on your monthly budget for housing, the next step is to get your mortgage pre-approved.
A mortgage pre-approval is a test run for your actual mortgage. It uses your actual income, your actual debts, and your actual credit score to show that you can get mortgage-approved for a home that’s within your budget.
When you’re pre-approved to buy a home, you have peace of mind to know that you’re qualified. You also get issued a pre-approval letter, which home sellers use to prove your qualifications.
Sellers almost never accept offers from non-approved buyers. Getting pre-approved is fast and simple, and can be handled online through a secure questionnaire.
As soon as you know your budget, it’s the right time to pre-approve your loan. It’s hard to move forward without it.
