Pre-Approved Mortgage
A Pre-Approved mortgage is a Free and
No-Obligation deal that lets you know before you go looking for your
home or signing an offer to purchase, how much you can afford to
borrow based on your qualification and personal credit rating. We'll
arrange for you the most competitive rates with longest rate guarantee
period that goes up to 120 days - if rates go higher, your rate will
not be affected, and if rates go lower, you get the lower rate. This
protection is solely responsible for savings thousands of dollars for
many people who obtained a pre-approval and the rates increased
afterwards.
Too often in the past, the mortgage was
left to the very end, but with our Online Pre-Approval or by simply
e-mailing us, we can take
care of this important process within hours. Once you are
Pre-Approved, you can confidently negotiate an offer on a home. A
seller also prefers to negotiate an offer of a purchaser who has been
pre-approved. With more lenders, lower rates, and no-cost,
no-obligation, make us your choice for your pre-approval.
If you obtained an insured mortgage
after April 1'st, 1996, the premium you paid on the mortgage is now
portable to another property (if you closed before this date, it is
not portable, meaning that if you bought another home and your
mortgage needed to be insured, you must pay the applicable premium
again.) NOTE: This insurance is for the benefit of the lender against
default. It is very costly and there is another way we can arrange a
mortgage for you with a low down payment. That is with a 1'st mortgage
and a 2'nd mortgage. For your unique situation, it may be less costly
to consider this option. Banks, on
the other hand, cannot offer you this option as they cannot provide
secondary financing over 75% of the purchase price or value of the
property.