After you’ve saved, cleaned up your credit, and done your initial research and set some guidelines for your search, you need to start thinking about financing. It might sound like you’re putting the cart before the horse, but understanding the steps to getting a mortgage and getting a pre-approval letter will give you a significant advantage over other buyers. Many sellers won’t even accept offers from buyers who aren’t pre-approved.
Determining whether or not you will be able to secure financing will make or break your ability to purchase a home, so it’s important to do your due diligence.
3 Months Before You Buy
Mortgage Basics
Who’s Who in Getting a Mortgage
Mortgage Pre-qualification and Pre-approval
Choose Your Mortgage
Choose the Right Mortgage Type for You
Cost Breakdowns and Paperwork
Points, APRs, and Other Homebuyer Fees
Understanding Mortgage Penalties
Your Guide to Mortgage Paperwork
After You Apply
Breaking Down Your Mortgage Payments
If You’re Rejected for a Mortgage
What Happens When Your Loan Is Sold?
