The Fastest Way to Get Approved For A Home Loan

Step 1. Check your credit.

The higher your credit score, the lower your rates will be.

So checking your credit score will tell you where you stand.

You can do a free credit check using services like Credit Karma. It doesn’t hurt your credit score to check because it’s considered a “soft pull”. Only hard pulls affect your credit score. That’s usually done

If your credit isn’t to great, that might be ok.

With a credit score of 580+ you might qualify for an FHA loan with 3.5% down payment. You could get a loan with a credit score as low as 500, but a 10% down payment is required.

Step 2. Have all your documents in order.

If you want to get pre-approved fast, you’ll want to have all your documents ready.

Here’s what’s required:

– Proof of assets. This includes last 2 months of savings and checking accounts, 401k, CDs, any assets you own.
– Proof of income. Last 30 days of pay stubs, last 2 years of tax returns and w-2 statements.
– Identification. This includes driver’s license, social security card, passport, etc.

This might seem like a lot of documentation, but gathering all of this now will save you lots of heartache later.

Step 3. Get a pre-approval letter.

This will give you a major advantage in two ways.

1. You’ll know exactly how much house you can afford. A common mistake homebuyers fall into is they go house hunting before they know their price range. It’s easy to spend weeks and even months searching for the perfect home. If you’re searching in the wrong price range, it’s disappointing (to say the least). You’ll have to start the search over from the beginning, which can take several more weeks or months.

2. You’ll become a formidable bidder. Having a pre-approval letter gives you an edge over other interested buyers. Sellers take pre-approved buyers more seriously because they’re further along in the process. With a pre-approval letter you’re likely to win the bid and own a home a lot sooner.

After you get a pre-approval letter, it’s easy to look for the perfect house. Request your Pre-Approval Letter here. It’s good for 90 days.

P.S.

When you close a loan with First Fidelity Mortgage, you’ll have a chance to win FREE mortgage payments for a full year. Chances of winning are 1 in only 150!

Get pre-approved now and enter your chance to win FREE Mortgage Payments For A Full Year. Next drawing is coming up on January 2019.