Before you start looking at homes, you will need to know how much financing you quality for, and therefore, the price range in which you'll be shopping.


In addition, your interest rates will be guaranteed for you up to one year in certain cases or until closing, whichever comes first. That is to say of rates start climbing while you are looking for your home your rate will be protected. On the other hand if the rates decline during this period you will be able to get the lower rate.


And since your mortgage is already approved in principle, you can negotiate with confidence and if needed make a firm offer on the perfect home.



Powered by