How Much Home Can You Afford? Try This Pre-Approval App!
United Home Loans has designed one of the easier applications on the web to help let you know how much home you can afford. This app works two different ways. If you do not have any idea what price range to look in, you can input your monthly income, debts and estimated credit score and the app will give you a mortgage loan amount that you should be approved for. Try the Pre-Approval app below:
If you have a specific home price in mind, you can input the sales price, down payment, taxes and a few other items and the app will let you know if you are pre-approved for those terms. Click the Pre-Approval link below:
Of course, you will need to document all of the items listed on this pre-approval app such as income, assets and credit history. Plan on providing your last two pay stubs, tax returns and W2 forms for the last two years and bank and investment statements for the last two months. In addition, United Home Loans will want to obtain their own credit report to confirm your debts and credit scores. Once all of these documents are received, the loan is submitted to underwriting for official approval.
Although this pre-approval app is the first step in the full approval process, it is a very important one and a great place to start. And, it is totally free and there is no initial credit check. For more information, contact United Home Loans today at (708) 531-8388 or click here to learn more about mortgage rates in Chicago.