Mortgage Pre-Approval Calculator: Look Before You Leap
Thinking about buying a home? Make sure you fully explore a complete mortgage pre-approval before you even start the process. Nothing is more heartbreaking or embarrassing than signing a sales contract for a new home, telling all of your friends and family since you are very excited and then realizing that the student loan you forgot to pay destroyed your credit and the lender denies your mortgage application.
If you need a mortgage pre-approval in Illinois, Indiana, Michigan, Minnesota or Wisconsin, we have a great program for you. Click Mortgage Pre-Approval Calculator to get started. If not clickable, go to our Get Pre-Approved tab on our home page.
This mortgage pre-approval calculator works two different ways. If you have a home price already in mind and you know an estimate for your down payment and real estate taxes, it will tell you if you can get pre-approved for that specific home. But, if you just want to get an idea of what sales price range you should be looking in, this pre-approval calculator will provide you a specific loan amount that you qualify for. Just add your available down payment funds to this loan amount, and you have a great starting point – an approximate maximum sales price. Of course many items can affect this such as real estate tax amounts and assessments, so you should always consult with a loan officer for specific mortgage pre-approval.
Being pre-approved for a mortgage is one of the most important parts of starting the process of purchasing a home and vitally important to complete before you sign a purchase agreement. So do your homework, obtain a complete mortgage pre-approval and look before you leap.
United Home Loans offers mortgage loans and competitive mortgage rates in Illinois, Indiana, Michigan, Minnesota and Wisconsin. And of course, we can offer mortgage pre-approvals in all of these states as well.