Home Loans August 15, 2013

Nine must-dos after loan preapproval

Nine must-dos after loan preapproval

By Michele Lerner of HSH.com

While it may seem obvious that you need to keep paying your bills during the period between a loan preapproval and your settlement date, some would-be borrowers neglect their finances in the excitement of shopping for a home.

"A preapproval letter is typically valid for 90 days but with the disclaimer that if anything changes with your finances it can impact your preapproval," says Patricia Napgezek, a senior loan officer with Inlanta Mortgage in Brookfield, Wis. "After 90 days, we can do a renewal letter with a recheck of your pay stubs and credit."

Read the entire article HERE.

If you are considering buying a home or refinancing, give us a call, we'd be ahppy to put you in touch with a reputable lender. It's not always the best rate that gets you the best deal!

Steve Hill and Sandra Brenner
Windermere Real Estate/FN
Client Satisfaction All-Stars