Mortgage Pre Approval

Looking for a mortgage pre approval? Before you start your house-hunting process, there’s a few pertinent steps you can take to save time and money, and make your overall home buying process smoother. Getting a pre-approval mortgage ultimately determines the house price you can afford, which lets you budget for your home purchase and begin searching for your new dream home.

How Mortgage Pre Approvals Work

Getting a mortgage pre approval is a tentative promise from a lender that they’ll loan you a certain amount of money to purchase real estate, for a certain term and set interest rate. A good rule of thumb to remember is that, your total housing costs (mortgage payment, taxes and heating expenses) shouldn’t go over 39% of your gross, monthly household income. This should also give you a rough idea of the amount of funding you may be approved for.

What Does a Mortgage Pre Approval Include?  
  • The maximum amount you can spend on a home
  • An idea of how much you can borrow
  • What your monthly payments will look like
  • What your mortgage rate is for your first mortgage term

Applying for a mortgage pre approval is free and doesn’t commit you to one single lender. However, once you’re pre-approved it does guarantee that the mortgage rate offered won’t change during the 90 or 120 day mortgage pre approval period with us. By locking in your rate, you are protected if interest rates rise while you’re out house hunting. In the case that interest rates lower during this time, we will honor the lower rate.

Ready for your mortgage pre approval? For more information on our pre approval rates, contact us today!

Why choose us for your mortgage?

  • Specialize in difficult mortgages
  • Years of experience and expertise
  • Excellent, reliable service
  • Best rates and trusted lenders
  • Creative and customized solutions
  • Proven results

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