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Today's Mortgage Rate:

1.875% Fixed | 2.952% APR

FHA, 20% equity, qualified credit

For serious homebuyers, the first step in buying a house is getting pre-approved for a home loan. A mortgage pre-approval is where a certified lender provides an estimate of the loan amount, interest rate, and monthly payments you qualify for based on your credit score and overall financial health. A official pre-approval letter shows sellers you are serious about purchasing their property, and it can help you stand out in the Indianapolis housing market. 

Advantages of Getting Pre-Approved for a Home Loan

  • Giving a Stronger Offer A pre-approval letter from a certified mortgage lender shows you are financially able to purchase a seller's home. For homes with multiple offers or houses in competitive markets, a pre-approval letter will make your bid more attractive compared to other buyers. 
  • Determine Your Price Range In the pre-approval process, you get to establish your price range for the homes you can afford and solidify your budget. The pre-approval process requires many of the same steps as a mortgage application so you will be able to determine what your lender is willing to offer you based on your finances and home search. It also saves you the heartache if a home is out of your price range. 
  • Correct Issues with Your Application Even if you pay all bills on time, sometimes small issues may be missing within your credit that can prevent you from getting the mortgage you need. By going through the pre-approval process, your assigned lender can review for any errors or identify any possible concerns in your application. We want you to have peace of mind and be able to put yourself in a stronger buying position.  
  • Quicker Closing Most of your financial information is verified by a certified mortgage lender early which means you can close on your home quicker. This gives you the ability to move in faster and start enjoying your dream home sooner. 

Pre-Approval with Golden Oak Lending Indianapolis

At Golden Oak Lending, our mortgage experts understand that having an edge over the competition is important in a competitive housing market. Our Indianapolis team works hard to quickly process your application and guide you to the best estimates that are within your budget. Whether you are ready to purchase your first Indianapolis home or move into your dream home, schedule a free pre-approval consultation at our office today!

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