Preliminary Steps to a Mortgage

When it comes to buying a home, applying for your mortgage is the very first step. Obtaining your mortgage involves several preliminary actions including:

  • Getting access to your credit report
  • Receiving a pre-approval
  • Being pre-qualified
  • Seeking the perfect rate

Understanding Your Credit Score

The very first step is ordering a copy of your credit score. Your bank will be able to send you this for free upon request. A potential lender will look at your credit report to help indicate your reliability as a mortgage candidate.

A healthy credit score will make lenders more likely to work with you. If you are interested in purchasing a home, it's a good idea to practice excellent credit skills for the months and years leading up to the purchase.

Being Pre-Approved

A pre-approval application includes detailed information, such as:

  • Credit score
  • Existing debt
  • Income
  • Assets
  • Employment status
The pre-approval will reflect the maximum amount in which you are eligible to borrow, as well as the interest rate.

Shopping for Rates

To ensure that you are getting the very best mortgage rates, our brokers will consider all options offered by each lender, including:

  • Interest rates
  • Amortization periods
  • Mortgage terms
  • Fees
  • Payment options
  • Penalties
  • Early mortgage repayment
  • Transferring of mortgage
Our brokers are happy to help guide you through this stage of the process to help you better understand the conditions of your mortgage.

Want to find the perfect mortgage? Call 208-233-7678 to get started.

Qualifying for Your Mortgage

To qualify for a mortgage, our brokers will take into consideration your income and expenses to ensure you can afford the amount you are asking for and pay it back.