If you are planning to finance your home purchase with a mortgage, keep in mind the current constriction in mortgage product offerings and the ongoing effects of the credit crunch.There is still plenty of money available to creditworthy borrowers. But lender guidelines have tightened significantly, and the days of easy credit with no down payment and no documentation are all but over.
With this in mind, it is more important than ever for you to get pre-approved – not pre-qualified – by a lender in order to avoid the possibility of losing out on your dream home.If the home is a short sale, proof of funds is always required.
With actual written documentation that proves the full support of a lender, pre-approved borrowers represent less risk to sellers.
For current mortgage rates or to get pre-approved, contact
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