Pre-Approved Mortgage in Sun Valley
Take the first step towards property ownership with a mortgage pre-approval. The brokers at The Mortgage Specialists assist with the mortgage application process and suggest your various options for lenders. Our experts will help you get the pre-approval you’ve been looking for so that you can start planning for your future home and finances.
Reach out to us today at (208) 233-7678 to discover your options.
What Is a Pre-Approved Mortgage?
A mortgage pre-approval is a written conditional offer of a mortgage loan you are eligible for with a particular lender, letting you shop the market with confidence.
In addition to receiving an exact monetary amount, your pre-approval will also include an interest rate, regular payment amount, and various terms and conditions. This allows you to plan precisely for your financial future.
Mortgage pre-approval is one of the first steps in the process. If you are seriously considering buying a home, begin the process with us.
What’s the Difference Between Pre-Approved and Pre-Qualified Mortgages?
A mortgage pre-approval is the next step in the process after a pre-qualified mortgage rate. Mortgage pre-qualification is only an estimate while pre-approval is a formal, conditional offer.
You must apply to receive a pre-approval, while pre-qualification only requires basic information.
Do Mortgage Pre-Approvals Affect Credit Score?
There is value in shopping around for the best mortgage rates, so when it comes to applying for mortgages for pre-approvals, you get a little leeway. Instead of multiple hard hits on your credit, you’ll be able to apply to multiple lenders within 14 days while only receiving one hard hit. It is important to make the most of those few days, so be sure to get in touch with one of our brokers first.
What Should I Do Before Getting Pre-Approved for a Mortgage?
If you are considering buying a home, it is imperative that your finances are in good standing.
Some important criteria for mortgage application include the following:
- Proof of income and employment
- Debt-to-income ratio of less than 40%
- Proof of your ability to pay debts and a down deposit
It is also good to do your homework when it comes to your various lending options. Regardless of where you find yourself in the home buying process, our brokers are here for you.
When Should I Get Pre-Approved for a Mortgage?
It is wise to get your mortgage approval as soon as you are ready to start your house search. The validity of the approvals means you’ll have lots of time to shop the market.
How to Get a Pre-Approved Mortgage?
The Mortgage Specialists’s brokers can simplify and streamline the mortgage pre-approval process. You had a wide range of options, and we are here to guide you through all of them.
We compile your information, compare various lenders and plans on your behalf, and assist with the application process. You can be certain of a good financial outcome when you choose us.
Discuss all your home buying options with us today. We look forward to working together.
How Long Do Pre-Approved Mortgages Last?
This depends on the lender you choose. The majority of mortgage holders will issue mortgages that are valid from 60-120 days. That means locked-in terms and interest rates, as well.
Contact The Mortgage Specialists for Premium Pre-Approved Mortgage Rates
Our knowledgeable brokers streamline the mortgage pre-approval process. Get in touch with us today to get started. Call (208) 233-7678.
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