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Prequalifying and Preapproval
One of the most complicated steps of buying a house is figuring out what kind of mortgage you can be approved for. Getting “prequalified” or “preapproved” can help the process in several ways, including speeding up closing after you’ve made an offer on the house of your choice.
Getting preapproved or prequalified can help you figure out how much you can afford to spend on a house before you go out in search of a home. That’s important when you find your dream home and want to make an offer.
Central National Bank can assist you in prequalifying for a home loan which will make you feel more confident when you are searching for a home. You will have confidence in the knowledge that you have been credit approved and you will know what price range you should be shopping in.
Here are a couple of things to consider when you are looking for home to purchase and you need financing:
- The loan amount you can qualify for depends on your income, your debts and down payment
- Everyones’ circumstances are different, never assume, always be certain.