If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home.
THE MORTGAGE PROFESSIONAL THAT YOU WORK WITH TO GET PRE-APPROVED WILL LET YOU KNOW FOR CERTAIN WHAT YOU CAN AFFORD BASED ON LENDER AND INSURER CRITERIA, AND WHAT YOUR PAYMENTS ON A SPECIFIC MORTGAGE WILL BE.
Louis Tang Mortgage Solutions professionals can lock-in an interest rate for you for anywhere from 60 – 120 days while you shop for your perfect home. By locking in an interest rate, you are guaranteed to get a mortgage for at least that rate or better. If interest rates drop, your locked-in rate will drop as well. However, if the interest rates go up, your locked-in interest rate will not, ensuring you get the best rate throughout the mortgage pre-approval process.
Getting pre-approved for a mortgage is something every potential home buyer should do before going shopping for a new home. A pre-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren’t pre-approved.