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Home Approvals

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How To Get an FHA Loan Preapproval

You know you’re ready to become a homeowner. But when you apply for a conventional loan with a bank, credit union or online lender, you’re getting turned down. Maybe it’s because you’re a first-time buyer and your credit score isn’t high enough or you haven’t built up enough of a credit history. Or maybe you’ve...

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How To Get a VA Mortgage Preapproval

To thank veterans for their service, the Department of Veterans Affairs (VA) helps to guarantee VA home loans made by lenders like banks, credit unions and online lenders. When you start shopping for a home with a VA loan, you may find several lenders in your area that offer VA loans. If the program seems...

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What Is a Mortgage Preapproval Letter and How To Get One

After years of paying rent, wrangling roommates and asking your landlord permission to do anything besides put up temporary wallpaper in your apartment, it’s finally time to buy your own home. Unless you plan to pay for the home with cash, you’ll need to get approved for a mortgage. Before you check out any real...

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Mortgage Preapproval Checklist Guide

Open houses and viewings are an exciting part of the home buying process, but for many aspiring homeowners, the journey starts before they step foot in a house that’s for sale. It starts with a mortgage preapproval. Getting preapproved is an optional, but important, step because it can streamline the process of buying a property,...

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Why Your Mortgage Loan Can Be Denied After Preapproval

You cleaned up your credit history, saved a large down payment and applied for a mortgage. Now your lender has given you that coveted preapproval letter, and you’re ready to shop the real estate market. That’s great news! But home buyers must be aware that it’s possible to have a mortgage application denied even if...

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Do Student Loans Affect Buying a House?

Going to college and buying a home are both important milestones, but student loan debt might make them feel like conflicting goals. Luckily, you can pursue both higher education and homeownership by understanding how loan debt might affect your mortgage. Read on to learn how student loans factor into getting a mortgage and get some...

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How Long Does a Mortgage Preapproval Last?

When you start the home buying process, it’s a good idea to get preapproved for a mortgage.  After finding a lender you trust – and finding a mortgage with the right terms – you’ll go through the preapproval process. Once you’re preapproved, the lender will hand you a mortgage preapproval letter. You can add the...

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Does Mortgage Preapproval Affect Your Credit Score?

You’re settled in your job, you’ve saved for a down payment and you’re ready to kiss paying rent goodbye. But before you start your search for the perfect pad, you’re told that it would be in your best interest to get a mortgage preapproval. To start the process of a mortgage preapproval, a lender will...

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What Is Loan Origination and Its Fees?

So you’re finally ready to purchase a home. You’ve been saving up and looking at listings, and you know what you want in a property. Now you’re ready to move on to the next steps and make your home buying dream a reality. You’re ready for the loan origination process.  Unless you’re buying a home...

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What Mortgage Lenders Look at When Checking Bank Statements and Paperwork

For most of us, the first step on the path to homeownership is to apply for a mortgage. When you apply for a home mortgage loan, your lender must confirm that you can repay the loan. To determine your creditworthiness (think: how much lenders can rely on you to repay a loan), your lender will...

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What Is Conditional Loan Approval?

You’ve decided you’re ready to buy your first home, and you’ve started the mortgage loan application process. Everything has gone smoothly, but now your lender mentions that they want to grant you conditional approval.  This may leave you wondering: What is conditional loan approval? And what does it mean for you?  Conditional approval on a...

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What Is a Mortgage Commitment Letter?

You’ve chosen your lender, and you’ve got your eyes on the perfect house. 🏡👀 The next step is to put an offer in.  Including a mortgage commitment letter with your offer can help you stand out to a seller. The letter shows that you’re a serious buyer, and a lender has promised to finance your...

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10 Tips for After You’re Preapproved for a Mortgage

Getting preapproved for a mortgage is the first big step in the home buying process. It can help you get your purchase offer accepted because it signals to the seller that a lender is willing to loan you money to buy a house.  A preapproval is a lot of things, but here’s something it isn’t:...

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Mortgage Preapproval vs. Prequalification

When you get a mortgage loan, you’re committing to a relationship with a lender that can last 30 years or longer. And that’s a long time – certainly longer than all of Kim Kardashian and Brad Pitt’s marriages combined! So, if you’re looking for a mortgage lender, don’t rush into a long-term commitment without exploring...

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4 Reasons Borrowers Lose Pre-Approval Status

Buyers are taken much more seriously when they are pre-approved. Learn how that pre-approval status can be lost so that you can prevent it from happening to you.

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