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National City Mortgage
Overview
Benefits of National City Mortgage
What is a Mortgage?
Fixed Rate Mortgages
Adjustable Rate Mortgages
Affordable Housing Programs
Additional Mortgage Options
New Home Construction Programs
The Benefits of Home Equity
Why Refinance With National City
Payment Options
Assistance to Keep Your Home
Assistance Option When Giving Up Your Home
National City Mortgage Insurance Options
Mortgage Life Insurance
Mortgage Pre-Approval
What You Need to Buy a Home
Application Process
Frequently Asked Questions
Glossary


Mortgage pre-approval

Pre-approval is like moving to the head of the class. It shows the seller that a financial institution deems that you are able to pay for the home with no problems. Sellers view pre-approved candidates as the top of the list, since they don’t have to worry about the sale falling through or the buyer not being able to afford the mortgage costs.

The most important part of applying for pre-approval is applying for the right type of mortgage. You want to make sure you choose the right type of mortgage you can afford for your home buying needs. This helps to avoid being declined for a mortgage and having to go through the process all over again. Pre-approval will determine the route you take to buying a home. It can help you know the size of mortgage to take out, as well as, learn whether your credit history is in good standing.

Another benefit of pre-approval is that it solidifies your interest rate for a certain amount of time to give you an opportunity to work through negotiations and find a home that fits your needs. It helps you bring more to the bargaining table as a buyer who has all their ducks in a row.

The National City Mortgage team of lenders will work with you to see the best course of action for you to seek pre-approval. They will let you know the necessary documentation for filing for a mortgage, and alert you of any potential roadblocks to your getting approved.

If you are approved for pre-approval your lender will contact you and provide you with official documentation of this approval to give to sellers you wish to negotiate with and hopefully secure the home for which you have been searching.

National City Mortgage wants to help you get to the home you desire, contact your local National City office for pre-approval information today.

 

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