get pre approved for a home loan

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currently looking to buy their first home plan to get pre-approved. "Seven out of ten first-time home buyers say when they walk into a home, they know right away if it’s the right house for them,".

When you get pre-approved for a mortgage, it is a much more involved process than a prequalification because you will typically have to complete a mortgage application as well as pay the mortgage application fee. You will then need to supply the potential lender with all the required.

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It is easy to assume that once you have pre-approval, all you have to do is find a home to buy, sign some papers, get your money and purchase your home. But occasionally, buyers are given a nasty surprise when they go to get the mortgage. Even though they were pre-approved, the lender declines to give them the loan.

It can take several days or weeks – even longer – to get approved for a mortgage, but that timeline heavily depends on how honest you are with your lender.

How to get a pre-approved home loan The first step towards obtaining a pre-approved loan is finding a lending agency you can trust. It might be one that you know, one that an acquaintance works for,

What I tell them is simple: Your first step is to get pre-qualified. While my advice may be simple, getting pre-qualified does require sacrifice, discipline and patience. Pre-qualification by a lender.

When getting pre-approved for a loan, having the right lender can make a big difference. Many home shoppers get pre-approved by a lender based on a recommendation from a friend or real estate agent, and don’t bother shopping around. But that won’t guarantee you’ll get the best rate or best service.

The primary reason to get pre-approved for a mortgage before shopping for homes is to ensure you’re looking at homes that are within the price range that you can afford. Even though a buyer will get pre-approved for a mortgage before shopping for homes doesn’t mean there is a guarantee they will successfully obtain the financing.

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