What is a Mortgage Pre-Approval?
Pre-approval is a strategic step in the home buying process because:
• You can lock in your interest rate for up to 120 days so you are secured from rate increases while you shop. If rate decrease during that time, you are automatically relocked into the lower rate.
• You know the amount you can borrower, monthly budget, and price range for you and your real estate agent to shop.
• Sellers feel more confident in offers from buyers who have their financing already secured.
At Valhalla Mortgages, we review our clients’ applications to ensure they are shopping with confidence for their home. All aspects of the application, employment, downpayment and Credit are review to provide an accurate quote.