Getting a pre-approval letter when you are planning to purchase a property or a home. Let’s talk about different ways on how to get your pre approval Letter from your Lender and ways to avoid being denied your mortgage application.
- Stable Job / Employment
In getting a mortgage or planning to buy a home, It is very crucial that you have your stable job or employment. Most of the Lenders will look on this part. Basically if you have stable job, then you have the higher possibility to get your pre approval letter. The other way around , If you don’t have your stable job, then most probably you will get a denied mortgage.
That is why I would suggest then, have a stable job or employment first before getting a mortgage.
- Have a Good Credit History
Having a Good Credit History is just like having good grades. Lenders will conduct a credit check report after receiving your requirements If you have managed your account, then that’s the time you can apply for a loan. To maintain a Good Credit History means paying your bills on time and doesn’t have any past due or outstanding balance on your loan or debts.
- Make Your Life A Debt – Free As Much As You Can
This is the root of all success and being financial stale will lead you to a debt free life.
Don’t be so clingy on Sale items in various malls and boutiques. Spend wisely and make you sure you can take care your bill.