Monday, August 16, 2010

Loan Mortgage Approval Makes buying a home much Easier!

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Loan Mortgage Approval Makes buying much Easier!

When buying a home, the process can be very stressful. Hey, no pain, no gain. Getting pre-approved for a mortgage can reduce stress levels.

Sellers are asking Buyers for proof that they can buy with a pre-approval letter; many will not even accept offers from potential Buyers until they know they can buy and close.

Going house hunting with knowing what you exactly qualify for will help you be sure that you can afford the home before you have fallen in love with a home, that is beyond your means.  

This leads to your agent having easier negotiations with the seller and less frustration all around, when the dream home is found, and you know you can get a loan.

Getting pre-approved involves the application process.

The mortgage lender will analyze what type of mortgage you can qualify for and lay out the specific requirements including the down payment and the maximum monthly payment amount you can afford.

Once a lender approves you for a loan, a magical thing happens. The lender will issue a pre-approval letter, indicating the lender has approved you for a loan, and specific amount of the loan.

The pre-approval letter is the golden key in the home purchasing process.

By getting a pre-approval letter, you are sure of a few things:

You know how much you qualify for

You know you can afford the payment

You know about how much you will need for a down payment

You know if there are any concerns and alert you to problems or issues that need to be addressed. That way problems can become resolved as you go through the process of finding a home

There are plenty of homes to choose from and rates are still low. So... see how much can you qualify for? Find pot how easy the process can be and make the buying process much easier.

To start the process go to http://www.getwealthyfl.com/  and click loan approvals for a pre approval letter today!

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