How do I apply for a Mortgage? STEP ONE- Research Start the discovery process • How much would I like to borrow? • What does my budget allow me to borrow? STEP TWO- Prequalify Search and compare mortgage lenders Once you’ve found your lender set up an appointment. They can help you figure out what kind of house you can afford. This is a great time to see what type of loan would work best for you.You can pre qualify on line. STEP THREE- Complete Mortgage Application. Sign a release allowing the lender to run a credit check. STEP FOUR- Pre-Approved Your information will be confirmed The Credit report will be checked Subject to appraisal, the loan is approved. Being pre-approved will speed things up when you find your home, most s/b agents will not accept a offer with out a pre-approval letter.

 

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