Getting pre-approved for a mortgage is something every potential home buyer should do before shopping for a new home. With a mortgage pre-approval, a mortgage professional can give you the dollar figure on what you can afford and what your payments will be prior to shopping.
Also a Licensed mortgage professionals can lock-in an interest rate 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, if the interest rates go up, your locked-in interest rate will not, ensuring you get the best rate giving you the best of both worlds.
A mortgage professional will explain to you the benefits of shorter or longer mortgage terms, the latest programs available, which mortgage products they believe will be the best fit for you. They will also review all of the other costs involved with purchasing a home.
Having a mortgage pre-approval will not only give you the confidence of knowing the price range you can shop in, it also helps your Realtor Professional put you in a more positive negotiation position when writing an offer.
If you want a hard working mortgage professional to go to work and custom make a mortgage plan that best fits you, please give me a call and I can refer you to the best people in the industry without cost or obligation.
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