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 also help you figure out how much you can afford to spend on a house.  That’s important when you find your dream home and want to make an offer.

Central National Bank offers many preapproval options to help increase your buying power, including:

• Prequalifying certification with no bank charge
• Several levels of approval available, depending on turn-around time and documentation

Additionally, here are a couple of items to consider when you are looking for home purchase financing:

• Loan amount depends on your income, debts and down payment
• Everyones’ circumstances are different