Do You Need to Get a Loan Pre-Approval?
Obtaining financing is one of the most important steps in the home buying process and the earlier you do it, the better. Everyone’s financial situation and goals are different, that is why it is not as simple as taking your monthly salary and taking x percentage of it to arrive at qualifying number. There are a variety of mortgage products available and the minimum amount of the down payment can vary from 0% for a VA loan to 25% down for a conventional loan for an investor.