Mortgage Pre-Approval, Why Do It?
It seems many home buyers feel they already have a "good enough" idea of what amount of mortgage they qualify for, so they don't feel the need to consult a mortgage professional in advance of their...
View ArticleExtra! Extra! Lenders Do Not Know How To Pre-Qualify Homebuyers!
It has been a while since I wrote about pre-qualification. It seems I need to write about this more often. Lenders hand out pre-qualifications like candy, with little analysis, little required...
View ArticleDON'T WAIT!
Most humans I know wait to do things, and wait as long as they can. I did it as a child when it came to cleaning up my room, I did it in college when it came to studying for an exam, and I do it as an...
View ArticleDo Not Wait Until You Need Pre-Approval To Get Pre-Approved
I have discussed this topic before, but it bears mention again. Homebuyers almost always wait until the last second to get pre-approved. Why? If you know you are interested in buying a home, and if you...
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What Portion of My Income Should I Spend on a Mortgage?
Deciding on how much mortgage you can afford is very complicated with several things to consider. Before you plan to spend the maximum amount you’ve been approved for, consider what you feel...
View ArticlePre-Approval Letter Versus Pre-Qualification Letter: What Is the Difference?
When you’re beginning the home-buying process, figuring out what you need to get your mortgage loan can seem complicated. You may even be tempted to find your dream home first before you apply for a...
View ArticleWhy Do Sellers and Realtors Want Me To Be Pre-Approved?
Homeownership is a major component of the American dream as it provides you with your own piece of property to put down roots and live your life. You might think the process starts when you first go...
View ArticleHow Much Documentation Needs To Go Into a Pre-Approval Letter?
Today’s real estate market can be competitive for everyone, no matter what price point you’re shopping at. That’s why it’s important to understand the ins and outs of the home buying process before you...
View ArticleAutomated Underwriting Versus Human Underwriting
When you’re ready to buy a new home, one of the first things you have to do is take steps to get your financing in place. Mortgage approval is based in part on an automated underwriting process. Unless...
View ArticleWhen Is A Mortgage Approval An Approval?
When is an approval really an approval? When is an approval only a conditional approval? Below are the different levels of “loan approval” you can get for a mortgage: 1. Pre-Qualification: This is...
View ArticleMortgage Paperwork Is Getting Easier
Here at Capital Bank Home Loans we have a new dynamic loan application that we use. Being dynamic means that it can potentially verify your assets and income during the application process, allowing...
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