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HOW TO GET PRE – APPROVED FOR A MORTGAGE

Posted by Admin on January 9, 2023
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  • GATHER YOUR FINANCIAL INFORMATION.

You will need  to provide documentation of your  income, assets, and debts. This includes tax returns, bank statement and credit cards statement.

  • SHOP AROUND FOR LENDERS

Look for lenders that offer competitive mortgages rates and terms. You can compare rates from multiple lenders top find the best deal.

  • SUBMIT A MORTGAGE APPLICATION.

                        Once you have found a lender you want to work with, you need to complete a mortgage application, this includes filling out  a form with your personal and financial information with supporting documentation.

  • GET A PRE- APPROVAL LETTER.

                            If the lender  approves your application , you will receive a  pre- approval  letter . this letter will include the amount of money you have been approved to borrow and the terms of the mortgage.

  • USE THE PRE – APPROVAL  LETTER  TO MAKE AN OFFER ON A HOME

                                                When you find a home you want to buy , you can use the letter to show the seller that you are a serious buyer.this can help you stand out in a competitive market  and makes it more likely that your offer will be accepted.

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