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Today’s Mortgage Rate:

3.75% Fixed | APR 4.791%

FHA, 15-year fixed, 10% 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 letter from a certified lender provides an estimate of the loan amount, interest rate, and monthly payments you qualify for based on a review of your credit score and overall financial health. By showing sellers you are serious about purchasing their property, getting pre-approved can help your home offer stand out in the competitive Portland housing market. 

Advantages of Getting Pre-Approved for a Home Loan

  • Make a Stronger Offer When you make an offer on a home, a pre-approval letter from a certified mortgage lender shows you are financially capable of purchasing their home. For homes with multiple offers, houses with highly motivated sellers, or in competitive housing markets, a pre-approval letter will make your bid more attractive and give you an edge over the competition. 
  • Determine Your Price Range When you get pre-approved, a certified mortgage lender will determine the price range of houses you can afford, allowing you to establish your budget accordingly. Because pre-approval requires many of the same financial information as a mortgage application, you can accurately set your home search parameters based on how much your lender is willing to offer you. This ensures you do not waster your time looking at homes out of your price range. 
  • Correct Issues with Your Application Even if you have a reasonable debt-to-income ratio and pay your bills on time, you may still have credit issues or unexpected problems with your application that prevent you from securing the mortgage you need. With pre-approval, a certified mortgage lender will help identify any potential issues with your mortgage application, giving you time to improve your financial situation and place yourself in a more competitive buying position. 
  • Quicker Closing Most of your financial information is verified by a certified mortgage lender early in the mortgage pre-approval process. This means that you can close on your home quicker and easier to move into your new house as soon as possible.

Pre-Approval with Golden Oak Lending Portland

Golden Oak Lending is a certified mortgage lender that can help you get pre-approved to purchase your new Portland home. Our mortgage experts understand that in the competitive housing market, any advantage over the competition can be the deciding in securing your new property, so our Portland team works hard to quickly process your application and provide you with the best estimates you qualify for. If you are ready to purchase your Portland home, schedule a free pre-approval consultation today!

Interest rates are at an all-time low, and the time to call is now!

Contact us today and see how our rates can save you money!