Thursday, April 18, 2013

Step One in the Home Buying Process: Obtain a Pre-Approval

Whether you are a first time home buyer, or a current home owner, obtaining a pre-approval is the first step in the home buying process. In today’s market, the housing market is very competitive. Houses are selling within days of being listed and are receiving multiple offers. Without a pre-approval, even if you are a qualified borrower, your offer will not be taken seriously.

The pre-approval process is relatively simple, fast and best of all, free! Here is a list of documents that will be required to issue a mortgage pre-approval in 2013:
  • Paystubs covering a 30 day period
  • 2012 and 2011 W2s
  • 2011 and 2012 Federal Tax Return (all pages)
  • Bank and/or investment statements (all pages – need to document sufficient funds for down payment and reserves)

United Home Loans is licensed to provide mortgage loans in Illinois, Indiana, Michigan, Minnesota and Wisconsin. Our team of licensed mortgage bankers can guide you through the purchase process and make obtaining a loan simple and pain-free. So if you need an Illinois mortgage pre-approval or any of the other states where we are licensed, United Home Loans can help.

Check out our rates below and call us with any mortgage related questions at (708) 531-8388.


Illinois Mortgage Rates
IL 5/1 Jumbo mortgage as of April 18, 2013 2.375%/2.617 APR
IL 7/1 Jumbo mortgage as of April 18, 2013 2.875%/2.810 APR

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


Indiana Mortgage Rates
IN 5/1 Jumbo mortgage as of April 18, 2013 2.375%/2.617 APR
IN 7/1 Jumbo mortgage as of April 18, 2013 2.875%/2.810 APR

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


Michigan Mortgage Rates
MI 5/1 Jumbo mortgage as of April 18, 2013 2.375%/2.617 APR
MI 7/1 Jumbo mortgage as of April 18, 2013 2.875%/2.810 APR

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

Minnesota Mortgage Rates
MN 5/1 Jumbo mortgage as of April 18, 2013 2.375%/2.617 APR
MN 7/1 Jumbo mortgage as of April 18, 2013 2.875%/2.810 APR

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


Wisconsin Mortgage Rates
WI 5/1 Jumbo mortgage as of April 18, 2013 2.375%/2.617 APR
WI 7/1 Jumbo mortgage as of April 18, 2013 2.875%/2.810 APR

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


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