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Pre-Approval

Ready, set, prep: first steps before you buy a home

August 24, 2022 credit score, down payment, First Time Homebuyers, Pre-Approval, rates

If you are looking to restart your search for a home, it can be tempting to jump straight into getting a pre-approval. But you may want to spend some time sorting out your finances first, as it’ll give you a more realistic snapshot of what you can afford in a fast-changing market.

What to keep an eye on as home sales fall and prices rise

June 24, 2022 affordability, home prices, homeready, National Association of Realtors, Pre-Approval, rates

June 24, 2022. Existing home sales fell 3.4% in May while the median home price rose above $400,000 for the first time, according to data just released by the National Association of Realtors (NAR). Despite the headlines, these numbers aren’t necessarily a reason to panic.

To Buy or Not to Buy: What to Do When Mortgage Rates Are Rising

November 5, 2018 credit, First Time Homebuyers, how much mortgage can I afford, how to get a mortgage, Pre-Approval, rising mortgage rates, will mortgage rates go up

The Federal Reserve has raised interest rates three times in 2018, and they’re not finished: another hike is expected before the end of the year. If that’s not bad enough, most financial analysts agree that we can look forward to additional interest rate increases in 2019. Plenty of people would rather watch paint dry than […]

8 Things You Should Know About Making an Offer on a Home

August 23, 2018 First Time Homebuyers, house hunting, Offers, Pre-Approval, realtors

It’s one thing to idly scroll through online house listings.  It’s something else entirely to make a real offer to buy a home, even now when the purchase process has taken on an entirely new form combining online shopping, social distancing open houses, and video consultations with realtors and mortgage providers. Making an offer on […]

What Is the Morty Pre-Approval? How Is It Different?

July 2, 2018 how much mortgage can I afford, how to get a mortgage, lock rates, mortgage, Pre-Approval, rate lock

A mortgage pre-approval letter in-hand takes the stress out of house hunting. Instead of wasting your time looking at homes out of your price range—or worrying about whether you qualify for a mortgage at all—being pre-approved for a mortgage means you can conduct your home search, and eventual purchase, confidently. But not all mortgage pre-approvals are created equal. Morty’s […]

Here’s What’s Wrong with Mortgage Pre-Approvals

January 8, 2018 mortgage myths, Pre-Approval

house - The Morty Blog

In 2018, mortgage pre-approvals are absolutely essential to the home buying process. Some real estate professionals won’t work with borrowers who haven’t been pre-approved for a mortgage. Sellers rely on pre-approval letters to help determine whether a potential buyer can actually make good on an offer for their home. Smart homebuyers get a pre-approval for […]

Does Bigger = Better When It Comes to Borrowing Your Mortgage?

December 25, 2017 mortgage myths, Pre-Approval

The wisdom espoused by some real estate professionals (and occasionally by well-meaning friends and family) goes something like this: When buying a home, go ahead and spend every cent of what a lender is willing to finance for your mortgage. Homes are expensive. The more you are willing to spend, the more options you have. […]

Can I Really Afford What My Pre-Approval Letter Says I Can Afford?

December 18, 2017 Pre-Approval

Can I Afford What My Pre-Approval Letter Says I Can Afford? - The Morty Blog

As a soon-to-be-homebuyer, you did the smart thing and got pre-approved for a mortgage. Now that you’ve gone through the pre-approval process, you know what your expected monthly mortgage payment amount and maximum home price are. Some would-be homebuyers see the maximum loan amount and assume that being pre-approved for a mortgage of a certain […]

Four Things You’ll Need to Get Pre-Approved for a Mortgage

December 11, 2017 Pre-Approval

House - The Morty Blog

Pre-approved borrowers can rest a little easier than other wanna-be homeowners because they know that they’ve already jumped through most of the hoops to qualify for a mortgage. As a savvy soon-to-be homeowner, you know that getting a mortgage pre-approval is absolutely critical if you want your home buying process to go smoothly, and it’s […]

When Should a Homebuyer Get Pre-Approved for a Mortgage?

December 4, 2017 buying, credit, mortgage prep, Pre-Approval, real estate

House Exterior - The Morty Blog

As a first-time homeowner, you may not know is exactly when in the home buying process you should tackle the mortgage question. Too many homebuyers wait to worry about home financing until they’re knee-deep in negotiations on their dream home. Discovering a credit or financing issue too late can derail your home-owning hopes and dreams. […]

4 Reasons You Should Get Pre-Approved for Your Mortgage

November 27, 2017 Pre-Approval

Ever gone to the store without your wallet? Then you know how embarrassing and frustrating it can be to want to buy something and suddenly discover that you’re unable to pay for it. When you’re buying something as important as a home, it’s important to sort out how you’re going to finance that purchase before […]

Mortgage Pre-Approvals Explained

November 20, 2017 Pre-Approval

4 Things You Need to Know Most first-time homebuyers don’t have hundreds of thousands of dollars just sitting in their bank accounts. If you need financing to purchase a home, you’ll need to be able to show a seller some proof that you can really secure financing. To do that, you’ll want to get pre-approved for […]

Getting Pre-Approved for a Mortgage Will Save You Hassle and Heartache

August 1, 2017 house hunting, mortgage prep, Pre-Approval, smart money

You wouldn’t go to the grocery store without bringing your wallet. And for major purchases like home appliances or furniture, you’d make sure you had enough money (or credit) to cover the cost of that new dishwasher or sofa before heading to the showroom. But when it comes to buying a home, tons of would-be […]

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Morty is a licensed mortgage broker. NMLS ID # 1429243. NMLS Consumer Access. All loans originated by Morty are funded by third party lenders. Morty, Inc. is authorized to do business as “Morty” in certain states. Morty is an equal housing lender.

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