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Guide to Home Mortgaging

The initial step in getting a mortgage for a new home is getting pre-qualified. Getting pre-qualified helps you determine how much home you can afford, based on specific financial information you share with your lender. Pre-qualification is an informal discussion between borrower and lender. The lender estimates the amount that you can borrow based solely on what you tell them about your income and assets. The lender does no verification and is not bound to make the loan when you're ready to buy. Once you are pre-qualified then you know what price home you can go shopping for.

Loan pre-approval is based on documented and verified information regarding your employment, your income, your liabilities, your assets and the cash you have available to close on a home purchase. This gives you significant buying power with a seller who recognizes you will be approved for a loan. To a seller, a lender's pre-approval letter is considerably stronger than a pre-qualification letter. If a seller knows your financing is secure, your offer is stronger. Pre-approval also gives you peace of mind as you shop for a home, knowing that you will qualify for the proper mortgage amount.

If you don’t already have a lender that you know and trust, your best solution is to ask your realtor to recommend a lender for you. Most real estate agents have relationships with reputable lenders that can look at your situation and determine what kind of loan that best fits your needs. Allen Tate agents can provide the advantage of in-house mortgage services that can streamline the entire process of buying your next home. When it comes to financing, Allen Tate Mortgage Services provide hundreds of options as well as trusted assistance in making sound financial decisions. You can take advantage of their low interest rates and fees, complimentary pre-qualification, easy application process, a wide variety of products to choose from, highly trained mortgage consultants, and local loan processing which minimizes time spent at closing. Allen Tate Mortgage Services can provide streamlined approvals, reduce the need for full employment and asset verification, mortgages from $25,000 - $5,000,000, 5 to 30-year fixed and adjustable rate alternatives, no down payment programs and special financing programs for transferees.

If you want to see what your mortgage payment would be, just call Tina Shields at Allen Tate Mortgage at (336) 823-0560 or email Tina at


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