Preparing to Shop

“Is there an advantage to securing a mortgage credit approval?”

An approval will take the mystery out of what you can afford, and will certainly give the prospective seller more confidence in you. When multiple buyers are bidding on the same house, a mortgage credit approval can be the deciding factor in whose offer gets accepted.

A Same-Day Credit Decision!

Using basic information such as your income, debt, assets, and employment history, a mortgage professional is generally able to get you a credit decision within minutes. The Credit Approval Guarantee will specify the actual loan amount, as well as the loan type and term. The approval is subject only to an acceptable appraisal of the home you eventually purchase.

Is “No Money Down” Financing Available?

If this will be your first home purchase – or if you prefer to put the equity from your current home’s sale into other investments – you may want to discuss with a mortgage professional financing options that don’t require any cash outlay. “No down payment” loans can go as high as one million dollars. And when borrowing less than $650,000, there are loan options that usually allow qualified buyers to fold in closing costs and other fees to make the purchase a true “no money down.”