You know you’re ready to become a homeowner. But when you apply for a conventional loan with a bank, credit union or online lender, you’re getting turned down. Maybe it’s because you’re a first-time buyer and your credit score isn’t high enough or you haven’t built up enough of a credit history. Or maybe you’ve

To thank veterans for their service, the Department of Veterans Affairs (VA) helps to guarantee VA home loans made by lenders like banks, credit unions and online lenders. When you start shopping for a home with a VA loan, you may find several lenders in your area that offer VA loans. If the program seems

After years of paying rent, wrangling roommates and asking your landlord permission to do anything besides put up temporary wallpaper in your apartment, it’s finally time to buy your own home. Unless you plan to pay for the home with cash, you’ll need to get approved for a mortgage. Before you check out any real

You cleaned up your credit history, saved a large down payment and applied for a mortgage. Now your lender has given you that coveted preapproval letter, and you’re ready to shop the real estate market. That’s great news! But home buyers must be aware that it’s possible to have a mortgage application denied even if

When you start the home buying process, it’s a good idea to get preapproved for a mortgage.  After finding a lender you trust – and finding a mortgage with the right terms – you’ll go through the preapproval process. Once you’re preapproved, the lender will hand you a mortgage preapproval letter. You can add the

You’re settled in your job, you’ve saved for a down payment and you’re ready to kiss paying rent goodbye. But before you start your search for the perfect pad, you’re told that it would be in your best interest to get a mortgage preapproval. To start the process of a mortgage preapproval, a lender will

So you’re finally ready to purchase a home. You’ve been saving up and looking at listings, and you know what you want in a property. Now you’re ready to move on to the next steps and make your home buying dream a reality. You’re ready for the loan origination process.  Unless you’re buying a home

You’ve decided you’re ready to buy your first home, and you’ve started the mortgage loan application process. Everything has gone smoothly, but now your lender mentions that they want to grant you conditional approval.  This may leave you wondering: What is conditional loan approval? And what does it mean for you?  Conditional approval on a

Getting preapproved for a mortgage is the first big step in the home buying process. It can help you get your purchase offer accepted because it signals to the seller that a lender is willing to loan you money to buy a house.  A preapproval is a lot of things, but here’s something it isn’t: