What is a mortgage pre-approval?

A mortgage pre-approval is a preliminary evaluation of a potential homebuyer's financial situation and creditworthiness. It provides a clear understanding of how much you can afford and shows sellers that you're a serious buyer.

What are the different types of mortgages?

There are several types of mortgages to choose from, including fixed-rate and adjustable-rate mortgages. It's important to consider factors such as the length of the loan, your monthly budget, and your long-term financial goals when choosing the right mortgage.

What do I need to bring to the closing?

You'll need to bring a government-issued ID, proof of insurance, and any other documentation required by your lender to the closing. It's important to understand what to expect at closing and to prepare accordingly.

How can I get pre-approved for a mortgage?

To get pre-approved for a mortgage, you'll need to provide proof of income, employment, and assets. You can request a pre-approval from a mortgage lender or broker, such as Bennett Capital Partners.

What is a fixed-rate mortgage?

A fixed-rate mortgage is a type of mortgage where the interest rate remains the same for the life of the loan. This can provide peace of mind and stability, especially if you plan to stay in your home for a long time.

First-Time Homebuyers Guide to Getting a Mortgage: Navigate the Process with Confidence