Buying Guide

Credit score

Credit score: Things you should know when getting a mortgage

When you’re buying a home, one of the most important factors is your credit score. It’s important to understand how it affects your mortgage loan. When you buy a home, the interest rate you’ll pay for the money you borrow will primarily be determined by your credit score. Your credit score is a three-digit number …

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Prequalification vs. preapproval

Prequalification vs. preapproval : Understand the benefits of each

Before you begin looking at homes, you’ll want to learn about the importance of prequalification and preapproval and the differences between them. Both prequalification and preapproval can give you an idea of how much home you can afford. There is less of a barrier for prequalification, while preapproval is a more in-depth process. What does …

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Applying for a mortgage

Applying for a mortgage: What’s needed during the application process

There’s a lot of paperwork and documentation involved when you buy a home. Know what types of documents you may be asked to provide and make a game plan on how to stay organized. During the home-buying process, you should be prepared to provide the following paperwork to your lender: • W2 statements from the …

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Mortgage qualification process: What happens when you apply for a loan

There are a lot of steps involved in qualifying for a mortgage. Learn who is involved in the approval process and what happens to your application after you submit it. Plenty goes on behind the scenes after you submit a mortgage application. And there are some things you can do to make the process go …

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