When you’re shopping for a new home, it’s important to know what you can afford so that you know what to look for. To fly blind could be dangerous for your wallet and your peace of mind. When looking for a house, a pre-approval for a mortgage loan is the key to comfort and credibility.
When you apply for mortgage pre-approval online, it’s vital to be able to trust the company you’re working with and know that they will keep an open line of transparent communication during the entire home buying process.
At RateJab, our mortgage brokers will go over your application and determine whether you are eligible for pre-approval for a home loan. After that, we work with you on everything that has to do with your mortgage, including helping you if you decide to refinance a home loan further down the line.
We serve home buyers and homeowners in the following PA and NJ counties and surrounding areas:
- Bucks County
- Burlington County
- Chester County
- Delaware County
- Mercer County
- Montgomery County
- Ocean County
- Philadelphia County
Pre-Approval for a Mortgage Loan in Bucks County
Mortgage pre-approvals allow you to apply for a loan before you find the house that you want to buy. When you are pre-approved for a mortgage, this means that a lender looked at your income and your credit report closely to determine if you are eligible to receive a loan. They will tell you the maximum amount of loan it will make, the loan programs that you qualify for, and the interest rates it will offer for different types of loans. From there, you will know exactly what you can afford in the home buying process.
Pre-approval for a mortgage loan can open up a lot of opportunities for home buyers. There are multiple benefits that come with applying for pre-approval:
Confidence in Buying Power
Especially if you’re a first time home buyer, it’s easy to wonder whether you can even afford to buy a house. If you get a mortgage pre-approval, you will know for a fact that you can buy a home so you can start looking. This is a pleasant alternative to going home shopping and later figuring out that you might not be able to buy one at all.
Say Goodbye to Guesswork
Mortgage pre-approvals give you a maximum loan amount. Through pre-approval, you’ll be able to establish a price range when buying a house. You can narrow your search and exclusively look for homes that you know you can comfortably buy. You’ll no longer have to ask yourself if a house’s price is right for you. This way, you can avoid falling in love with a house that you later find out you can’t afford. Alternatively, mortgage pre-approvals may reveal that you qualify for a bigger loan than you thought, making you able to buy a home that you didn’t think you could afford.
Having a pre-approval portrays you as a serious and solid buyer, which will make sellers more comfortable with selling you a house. They’d be much more likely to trust a buyer who has a pre-approval than one who doesn’t. This is even more beneficial if you are in a multi-offer situation. Mortgage pre-approvals give buyers a leg up against the competition.
Fast Track to Closing
Mortgage loan pre-approvals can actually speed up the closing process once you are under contract. Since most of your information is already in the lender’s system, it’ll be easier for you to close a sale and move into your new home more quickly.
Mortgage Pre-Approval Online
Mortgage pre-approvals allow you to comfortably look for a new home within your confirmed price range. At RateJab, we offer open communication, low rates, and friendly advice to guide you through the home buying process. We proudly serve individuals and families looking to buy homes in Bucks County, Burlington County, Chester County, Delaware County, Mercer County, Montgomery County, Ocean County, Philadelphia County, and beyond. You can quickly apply for mortgage pre-approval online through our website and begin searching for the home of your dreams with us to help you along every step of the way.