Own house is a dream of everyone and it’s a most special moment when you are owing your own home. If you are planning to buy your home first time you should be aware about all the factors and the process of buying and owning home. Having your own home makes you pride of ownership; you can decorate your home according to your likes or you can paint your home walls according to you colour choice. There are so many advantages of own house in compare to you are living on rent. Your own house gives you and your family a stability as well as safety. Another benefit of owning home is the appreciation value of home. Real estate market runs in cycle sometimes get benefit sometimes loss but overall it has constantly valued. If you are planning to buy My Money House home then you should consider some of the factors before like your credit score, lender pre-approval before buying, knowledge about every expense, or correct information about the property and its actual valueetc.
What do you need for pre-approval of home loan?
When you are planning to apply for a home loan first you should get pre-approval from the lender. A pre-approval is an evaluation process which tells your ability to buy or not. It will decide your appraisal about your lending what bank will consider to you. They have decided some criteria to get pre-approval for a loan. They will verify your social security number through your tax document or social security card. They will also request for proof of employment, proof of your monthly salary, your living address and information about the money what you have in the bank. They will also want information about your other outstanding loans. Always remember don’t take mortgage pre-approval from many lenders it may decrease your credit score