Do you need to get Pre-Approved in Illinois, Michigan, Minnesota or Wisconsin? - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Friday, February 1, 2013

Do you need to get Pre-Approved in Illinois, Michigan, Minnesota or Wisconsin?

For prospective homeowners getting pre-approved is the first major step in the home buying process. While this process is somewhat involved, it is a relatively fast and provides you with a specific dollar amount for what you can afford.

It is critical to complete the pre-approval process prior to making an offer on a home, as the seller may pass you up if another prospective buyer has a pre-approval on hand. Knowing what you can afford upfront can prevent deals falling through and potential loss of earnest money.

United Home Loans offers free pre-approvals for prospective buyers in Illinois, Michigan, Wisconsin and Minnesota. To obtain a pre-approval, the following documentation needs to be provided:

  • Pay stubs – income verification is key in the qualification process
  • W2s – a 2 year work history is a standard requirement for a pre-approval
  • Self-employed borrowers – 2 years of tax returns are needed
  • Current homeowners – loan documents from your current home such as a mortgage statement, tax and insurance bill
  • Asset statements – to verify possible funds needed to close

Our team of Mortgage Bankers can guide through the pre-approval process and help to advise which loan program best fits your purchasing needs. For more information on obtaining a pre-approval, visit our pre-approval page to review how to get started. Get Pre-Approved Now

Current Mortgage Rate Information as of February 1, 2013 Below:

Illinois Mortgage Rates
Illinois 15 Year Fixed as of February 1, 2013
2.500%/2.712 APR

Illinois Jumbo 15 Year Fixed as of February 1, 2013
3.375%/3.548 APR

Please click this link for APR assumptions and more IL mortgage rates

Michigan Mortgage Rates
Michigan 15 Year Fixed as of February 1, 2013
2.500%/2.712 APR

Michigan Jumbo 15 Year Fixed as of February 1, 2013
3.375%/3.548 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
Minnesota 15 Year Fixed as of February 1, 2013
2.500%/2.712 APR

Minnesota Jumbo 15 Year Fixed as of February 1, 2013
3.375%/3.548 APR

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates
Wisconsin 15 Year Fixed as of February 1, 2013
2.500%/2.712 APR

Wisconsin Jumbo 15 Year Fixed as of February 1, 2013
3.375%/3.548 APR

Please click this link for APR assumptions and more WI mortgage rates

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