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The key to a successful house hunting mission is the mortgage pre-approval.
That's one our most frequently asked questions. Mortgage pre-approval is what happens when you talk to a mortgage advisor and find out how much house you can afford. It's an important step because it helps your real estate agent narrow down the focus of the house hunting. Your mortgage consultant will ask questions about your financial situation including credit history and income. Then you'll talk to them about your comfort level when it comes to a monthly mortgage payment. It's important to know this, in order to avoid payment shock!
Here's a look at some of the benefits to getting pre-approved before you house hunt:
Take a look at this interview that breaks it down from a mortgage consultant's point of view.
Trouble with the video? Visit the AmeriFirst Home Mortgage YouTube channel to see it.
Mortgage pre-approval is AmeriFirst's actual commitment to lend to you. Again, your mortgage consultant will gather some of your financial and credit records, and go through a preliminary approval process. Pre-approval gives first time home buyers a definite idea of what they can afford and shows sellers that they are dealing with a serious buyer.
(keys: Flickr user Bohman)
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