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Blog Category - New Home Mortgages 101

Navigating the Mortgage Process

Categories: New Home Mortgages 101 | Posted: July 16, 2020

Getting pre-approved with our preferred mortgage lender is an important early step in determining how ready you are to own a home. Pre-approval will make it possible for you to map out your timeframe in a realistic way. Lenders will help you to calculate your purchasing power. They will also give you a practical sense of what sorts of payment plans and loan amounts make sense for you and your family. Once you obtain a pre-approval letter from your lender, you’ll be ready to start discussing loan options. You’ll also be prepared to clarify your budget and land on a sustainable monthly mortgage payment. A lender will want to see certain documentation – such as your employment history, projected income, and any assets you own– at your first meeting or online interaction. Be ready to submit a social security number as lenders use this to run your credit history. Our preferred lender makes it easy to submit all of these documents via their website. Be ready for lenders to ask lots of questions in order to understand your financial history, and to ensure you’ll be set up for a successful mortgage repayment plan.

Click here to download the PDF “The Journey to New Home Ownership.”

Read the 7 Steps to Homeownership.