Mortgage Brokers More About Second Mortgage | Page 9

3-STEP GUIDE TO GETTING A
MORTGAGE
• Get pre-approved
• Visit a few banks, mortgage companies, trust companies, loan firms, and credit
unions to get a pre-approval for your mortgage. The pre-approval process is
basically an initial discussion with potential lenders about the rates and
services they are offering, along with your eligibility and affordability after an
evaluation of your assets and credit history. When going for a pre-approval
interview, there are a number of documents you should have with you
including your proof of employment, current pay slip, financial statements, and
documents relevant to current loan payments, child support or other financial
obligations.
• Apply for the loan
• Once you have everything clear including a property you like, your own
finances, and a pre-approval from a good financial institution(s), all you have left
to do is run a comparison and apply for the mortgage. Compare the rates
being offered to you and select whichever is the lowest. Once you have taken
your pick of the financial institution you want to enter into a deal with, you
just have to gather your documents and apply for the loan. You will hear from
the lenders soon; as soon as you get the go signal, you need to put the down
payment on the property before someone else snags it.