Timing is everything, especially when you’re transitioning from renting to owning. If you’re still on the fence, try our affordability calculator. You can also try our Rent vs. Buy calculator to compare whether it makes sense to buy now or continue renting. Also, keep in mind property taxes, insurance, costs of rents in your prospective neighborhood, and intangible benefits like space and the freedom to renovate.
Pre-Approval letters are your golden tickets to accessing sellers and real estate agents. A Mortgage Pre-Approval is a preliminary statement that affirms according to your credit history, income and down payment reserves, you will be able to obtain a loan up to a specific amount. It also affirms that an underwriting department has reviewed and verified your scenario.
Get A Rate makes it easy for you to get pre approved in 90 minutes or less. Apply for our Underwritten Buyer Pre-Approval to verify your approval eligibility. Trust us—it’ll reduce the amount of paperwork you’ll have to fill out later. Oh, and it also gives you an idea of the payments you’ll be able to afford when you’re shopping for your dream home.
A Mortgage Pre-Approval is not a commitment to lend and additional documentation may be required.
Once you find your dream home, your advisor will help prepare your mortgage application. As soon as you decide on an offer price, your real estate agent can best represent your offer to the seller.
Now, you’ll draw a contract based on the agreed upon purchase price, closing date, and contingencies. Then, contact your mortgage lender to submit your application. Your mortgage lender will prepare disclosures for your review based on property address, purchase price, selected term and program, rates, and more.
A home inspection is a small (but worth it) investment in making sure that you’re not purchasing a home that’ll cost you a lot in repairs down the road. The home inspector will determine if there’s anything that’s structurally or mechanically faulty with your dream home.
In the home buying puzzle, this is one of the most important pieces. Thankfully, with Get A Rate, it’s quick, simple and painless. You’re working with experienced Home Loan Advisors. We’re here to help empower you to make the right decision when buying a home, selecting a loan amount, program and much more. Once you’ve selected a program, we can order the home appraisal. Your advisor will work with you from here to provide you, your real estate agent, and your attorney any updates.
You’re almost done. Once your loan conditions, appraisal and inspection reports are complete, the lender will issue the mortgage commitment. Basically, it’s the lender’s promise to lend you the money for your new home. Once the mortgage commitment is issued, you’re fully approved for the mortgage and ready to close on the home.
NMLS #907795 Licensed Residential Mortgage Lender in NY, PA, CT, FL and NJ (by the NJ Department of Banking and Insurance). Equal Housing Opportunity Lender. When and if acting as a broker, Get A Rate will not make commitments or fund mortgage loans. Authorized website by the New York State Department of Financial Services.
Registered NY Mortgage Broker. All NY mortgage loans are arranged with third party lenders - Get A Rate LLC does not directly offer or guarantee NY interest rates or loan programs and does not directly issue commitments or make final decisions on loan terms. Authorized website by the New York State Department of Financial Services.
Get A Rate LLC is an FHA Approved Direct Lending Institution, and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. These programs are not a commitment to lend and program guidelines are subject to change.
If you have any complaints, please reach out to: NJ DOBI, Trenton, NJ. Rates as of 9/26/17. Loans are arranged through third parties. Recent advertised rates are subject to change without notice. Advertised rates are available only on owner-occupied, single-family, residential properties, 80% LTV purchase/rate term. Fees and charges may apply. An advertised rate is not guaranteed and does not constitute an approval. Not all applicants will be approved. Minimum credit score requirements apply. Full documentation, acceptable properties, insurance, and additional underwriting is required. Loans are secured by liens against real property. Terms, conditions, and restrictions apply.
Calculations computed by Get A Rate Rent vs. Buy and Affordability calculators are estimations. Get A Rate is not an accounting firm or financial advisor. Please consult a tax professional and/or financial advisor for more accurate information.