Going to look for a new house? Wait! Mortgage Merchant has something that can make your search easier. Don’t’ know what is it? Ever heard of Pre-Approved Mortgages? No? Give Mortgage Merchant the opportunity to explain it to you.
A pre-approved mortgage is a loan that has been temporarily approved by the lender marking the amount of money you will receive for specific terms and certain interest rate. This set the price limit for the buyers in which they can look for their house. A pre-approved mortgage is available in different forms that include residential or conventional mortgages, variable or fixed-rate mortgages, and long or short-term mortgages. Mortgage Merchant can help you decide which one is perfect for you.
What you need to get a pre-approved mortgage? You need to give following information:
- The name of the employer along with your current wage and duration of employment.
- Any kind of details that can add worth to your total net, such as bonuses, assets, commissions and investments
- Details about your current liabilities such as credit card bills, student loans, car loans, alimony and any other kind of payment obligations.
- Confirmation of your down payment.
Talk to our mortgage broker for more information on mortgage pre-approval.