Bespoke Mortgage Advice
What is pre-approval?
Mortgage pre-approval is the first step in the mortgage process for buying a property. A mortgage pre-approval means you are approved for a specific purchase price and loan amount.
With a pre-approval, you provide an overview of your finances, income, and debts to a mortgage lender. The mortgage lender then gives you an estimated loan amount and interest rate.
Your pre-approval is usually valid for a particular time period, such as 90 days. A mortgage pre-approval can be useful as an estimate of how much you can afford to spend on a home.
How is pre-approval helpful?
Once you find your property, things tend to move quickly. Waiting to visit a lender can keep you from getting the house of your dreams, especially if there are other interested buyers.
Getting pre-approval for your property can:
Move you one step closer to home ownership
Help you understand the loan amount you may be able to afford
Provide confidence in your ability to obtain financing
Demonstrate your creditworthiness to the seller for the purchase amount
Reduce timelines and improves our ability to close your loan fast
Can Maidwell Group get me a pre-approval?
Yes we provide a free pre-approval service. Click Here to contact us!