Regardless of whether or not you enjoy cooking, the inevitable task is much more enjoyable when you have a clean and clutter-free kitchen to work in. Additionally, a clean kitchen provides a safer place to eat and thus a healthier you. In the long-run, keeping your kitchen well-maintained and tidy will actually increase the value of your home if you choose to sell it later on. Below is our three-step guide to a cleaner and organized kitchen.

 
Step 1: Get organized.

 
The best cleaning tips for the kitchen start with identifying and organizing the items that belong in the kitchen as well as the items that don’t belong but have managed to make their way in overtime. One way to get all kitchen items organized is to ensure that every item has a home. All flatware should be separated and properly placed in a drawer. Food items such as bread, cereal, etc. should be placed in the cabinet or pantry. Car keys should be hung from a hook on the wall or in a basket on the entry table.

 
If after organizing your entire kitchen, you discover items that don’t have a home, you can draw the conclusion that they don’t belong in the kitchen at all. To keep the non-kitchen items from piling up, do a quick sweep of your kitchen everyday and remove any items that don’t belong.

 
Step 2: Live healthy.

 
Yes, germs are everywhere and it is impossible to kill all germs in your home. However, we can keep them contained in areas that are known for harboring the most germs. For example, avoid using sponges to wipe down countertops and sinks. They are known to carry a ton of germs and spread them quickly. Instead, consider using a paper towel or cleaning wipe that you can throw away once the task is complete.

 
After cooking, be sure to wipe down all counters with a safe disinfectant, especially when handling raw meats. Keep anti-bacterial hand soap next to your dish soap on your sink and wash your hands both after handling raw foods and cleaning up. Lastly, if you have a pet, keep their dishes off of countertops and food prep areas.

 
Step 3: Clean regularly.

 
While cleaning the kitchen every day or once a week may seem extremely time consuming, it will actually require less time than it would to clean your kitchen after a significant amount of time has passed. A good rule of thumb is to clean as you cook. After you add an ingredient, place it back in the cabinet or refrigerator. Once you finish with one pot or bowl, wash it or put it in the dishwasher.

 
Also, wash or rinse the dishes right after you finish eating. This will prevent food from sticking to the plates and silverware. Try to mop and clean out your refrigerator at least once a week. Finally, take out any trash that contains raw meats or spoiled food.

 
The majority of us consider organization to be the single most important factor in creating and maintaining productive work habits. If you are like most individuals, sustaining organization is not the hard part; it’s getting organized that most of us struggle with. In order to assist you, our team of mortgage professionals has shared their best tips on how to get organized as well as a few tricks on maintaining it.

 
Step 1: Assess your organizational needs.

 
Before you pick up a single item on your messy desk, take a second to think about what all needs to be organized. Start with the easiest category, paperwork. Identify all the paperwork that flows into your workspace and divide it into categories. For example, most people have a stack of bills, contact information, correspondence, etc. Once you have all of your paper work divided up, come up with a system for keeping it all organized. Maybe you want to have separate folders for each category and store them all in your file cabinet, or maybe you want to divide it all up into a tray table that sits on your desk. It doesn’t matter how you keep it separated; only that each item has a designated spot.
The next thing you want to asses is how quickly you can find things. Do you spend a good amount of time searching for documents, files or stray papers? If you answered yes to the previous question, build a filing system to help keep all of your important documents organized. Having everything in one central location will cut back on the time you spend searching your office and allow you to spend more time being productive.

 
Lastly, assess your time-management and track your “to-do” items. Some people prefer to use traditional day planners, while others prefer computer-based systems. Being able to track what you accomplish and add new tasks will not only keep your organized but allow your days to flow smoothly.

 
Step 2: Don’t be intimated by sorting.

 
Sorting is something we all hate to do, but must accomplish when trying to get organized. The best way to look at it is that you are simply grouping like items and taking away things that don’t belong in the group. For example, if your computer or desk area is covered with sticky notes of “to-do” items, consolidate them. Instead of having 50 sticky notes, type them all into your task tracker. Another way to organize your work area is to have a tray for urgent or immediate documents and one for regular items.

 
Step 3: Toss what you don’t need.

 
Hopefully after you have sorted through your workspace, you have found quite a few items that you no longer need. While it may seem easy, this step is one that many of us struggle with. For some reason, we have a hard time deciding what to keep and what to purge. Here are some factors to consider if you can’t decide which route to go:

1. Keep financial statements and tax information that may be required by the IRS on file for five to seven years. Anything older than that can be discarded.

 

2. Toss any information that is available online. If you have printed off copies of articles you found online and know that they will remain on the site you found it, throw away the hard copy. If you are unsure whether or not you will be able to find it online at a later date, copy and paste the text into a Word document and save it to your hard drive.

 

3. Transfer contact information to the appropriate place, and then discard the scrap it was originally written on. If you have a sticky not with a clients email address or phone number on it, add them to your address book and toss the scrap of paper.

 
Step 4: Categorize and maintain.

 
Once you have sorted through and thrown out anything and everything you no longer need, file it. Come up with your top categories and if needed, subcategories. Take each pile, place it in a folder and add it to your filing cabinet. Before you know it, you will be organized.

 
Keep in mind the maintaining organization requires you to be diligent about it. If needed, set a weekly reminder in your phone or on your calendar that reminds you to sort, purge and categorize new items.

This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a wide ar- ray of mortgage programs to eligible borrowers nationwide. Click here to visit our website.

If you or someone you know has questions about home financing in Oklahoma or nationwide, contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732. www.OklahomaMortgageBank.com

From media rooms to home offices, there are several ways homeowners can transform their basements. When deciding how to design your basement, you have to focus on what you want to use the space for most. There really is no right or wrong way to set up the space, but knowing exactly what the main purpose of the room will be will make the transformation process much easier. If you have a basement, but no idea what to do with it, our team of mortgage professionals is here to help. Listed below are six different ways homeowners can transform their unused basement spaces.

 
Media Room
 
Several homeowners choose to transform their basements into large multipurpose media areas. If you have always dreamed of having a home theater, an unused basement provides the perfect layout. Here are a few helpful tips to get you moving in the right direction towards a mega media room.

• Don’t put the viewing screen or TV across from a window; the darker the space, the better. If you absolutely must put the screen across from a window, install black-out shades or dark, heavy curtains.

 

• Don’t fear if your basement has low ceilings, you will be seated the majority of the time you spend in there.

 

• Platform seating is a great, yet inexpensive, touch to add to any home theater. While theater seating can really add up, placing a platform under your second row of seats elevates the back row, providing optimal viewing without draining your wallet.

 
Personal Fitness Facility

 
Before setting out to purchase fitness equipment to fill the basement, measure the space’s dimensions. Be aware that low ceilings may cause certain pieces of fitness equipment to not fit properly in the space. Therefore, measure the room and measure the equipment before purchasing. Also, make sure the equipment can make it down the stairs. If it is welded together or does not disassemble, you may have trouble making a sharp 90-degree turn when moving it down the stairs.

 
Home Office

 
A home office should ideally be the same size as a guest bedroom. It is important to note that if you add a closet, your home office will be considered an extra bedroom according to code and you will be required to install a window. If you are concerned the space will feel cramped, use a double set of French doors on a basement office to maximize natural light and create a feeling of openness.

Guest Bedroom

 
As previously mentioned, if you decide to turn your unused basement into a guest bedroom, building code will require you to have an egress window no more than 44 inches from the ground. You are permitted you create a step-up or enlarge the window to meet code.

 
If you want to create a guest suite, place the bathroom adjacent to the bedroom with a direct entrance from inside. Make sure if you install a shower there is enough clearance for your guest to lift their arms above their head without hitting the ceiling. Lastly, you will need a fan to exhaust to the outside.

 
Bar and/or Wine Cellar

 
Before you begin picking out countertops for your new bar, it is important to set a budget. Installing a bar is extremely similar to installing a new kitchen without the appliances, so your expense will be comparable.

 
If you don’t have a large budget, there are other alternatives for the space that provide the same effect. Consider adding in a horizontal section of cabinets that can also be used as a buffet and leave room for a fridge. Also, purchasing cabinets from a big-box or modular furniture store rather than installing custom cabinets can save you a considerable amount of money.

 
If you absolutely must have a classic bar or wine cellar, it is best to determine your maximum budget and work backward. Make a list of items you want to include in the space with your must-haves prioritized on top. This will help you determine which features you can and cannot live without.

 
Basement Apartment

 
Are you looking for a new stream of monthly income? If so, consider turning your unused basement space into a rental unit. Transforming the space into an apartment is no different than transforming it into anything else. Before beginning the renovation process, verify that your neighborhood is zoned for multifamily residences. Hiring a general basement contractor for this type of project is highly recommended. They will ensure that the right permits are produced and all construction components meet building code.

 
This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a wide array of mortgage programs to eligible borrowers nationwide. Click here to visit our website.

 
If you or someone you know has questions about home financing in Oklahoma or nationwide, contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732.
www.OklahomaMortgageBank.com

Whether this is your first time buying a home or you are an experienced buyer, there are several further steps you will want to complete.

Hold on to all the papers you received at settlement because each one is extremely valuable! Right away they can aid you in filing tax deductions for the year that the property was purchased. For future reference, the papers will remain important for tax purposes such as when the property is sold and in some instances, for determining estate taxes.

During closing, it is good to find out the status of the utilities required for the home. Such items include water, gas, sewage, oil, and electric service. Confirm that all the utility bills are paid in full by the owners as of closing. You also want to make sure the services are transferred over to your name to begin receiving the billing. In most instances you can transfer utilities over without turning anything off. Speak with your realtor to obtain any contact numbers or accompanying information you may need.

Approximately two weeks after your closing, get in touch with the local property records office and get confirmation that your deed was recorded officially. These documents are public notices that declare your interest in the property.

Moving in

The general understanding is that sellers will leave the home “broom clean” when they move out. This term does not mean the property will be vacuumed or spotless. It simply means that the house is ready to be cleaned and painted, so expect to do a little work.

Protect your home and your money

For most people, their home is the largest single asset they have, so it makes no sense to not protect that asset.

Try making a video or photo record of your home and possessions for insurance purposes. Be sure to keep the records in a safety deposit box. For recommendations on what to photograph and how to secure it, contact your insurance provider.

Also, it is important to maintain theft, fire, and liability insurance. The coverage for these should rise as the value of your home rises. Once again, contact your insurance provider for further details. Last but not least, enjoy every piece of your home. The process of owning real estate can be tough to get through with all the contracts, taxes, and loans but it is very important that you have a great experience. Sit back and enjoy!

This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a wide array of mortgage programs to eligible borrowers nationwide. Click here to visit our website.
If you or someone you know has questions about home financing in Oklahoma or nationwide, contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732.
www.OklahomaMortgageBank.com

 
Why are these records important? They are essential for today’s homeowners because they provide them with proof that the property they are selling has a good, marketable, and insurable title. Just as important, these records allow buyers to supply proof of ownership if or when they decide to sell.

 
According to our Oklahoma mortgage experts, the closing process, which is also referred to as “settlement” or “escrow” depending on which part of the country you are in, is becoming more and more computerized and automated these days. A lot of the time, buyers and sellers do not even need to appear at a specific event. Often, the signed paperwork can be sent to the closing agent using overnight delivery.

 
The usual closing procedure brings together several parties who are part of the “transaction” process. For instance, the history of property ownership has already been checked but there is a possibility the records have errors or that there are unrecorded flaws or claims in the actual review. Thus, it is necessary to have title insurance. At the time of closing, it is required that all transfer taxes be paid and all other claims be settled (such as legal fees, closing costs, and adjustments). For the majority of transactions, the paperwork needed to record the loan is completed by the closing agent.

 
What you need to expect:

 
Settlement is a fairly quick process. It is where all of the required documentation for completion of the transaction is signed. Typically, closing takes place in an office setting. Sometimes both the buyer and the seller are together at the same table or other times they are assigned to separate areas to complete their paperwork. In both instances the aftermath is that the title to the property is signed over from the seller to the buyer.

 
Once completed, the buyer will receive keys to the property and the seller will receive the payment for the home. In order to pay off the existing mortgage and additional transaction costs, the closing agent will subtract money from the amount credited to the seller. Also, loan documents, deeds, and other paperwork are prepared, signed, and filed with the community property record offices.

 
What you should do:

 
One of the best aspects of settlement is that buyers and sellers do not need to do very much. Before the loan closes, buyers usually have one final opportunity to walk around and observe the property to ensure that the conditions have not changed since the sale agreement was signed. At the actual closing, all the necessary paperwork has already been prepared by title companies, closing agents, lawyers, and lenders. These documentations are a reflection of the sale agreement and also allow all parties involved to verify their share. For example, the loan is recorded in public records for the lender, buyers obtain the title to the home, and state governments acquire their transfer taxes from the property.

 
This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a wide array of mortgage programs to eligible borrowers nationwide.
If you or someone you know has questions about home financing in Oklahoma or nationwide,
contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732.
www.OklahomaMortgageBank.com

 
It is silly to think of driving a car without insurance, so the same goes for owning a home. No homeowner should be without homeowner’s insurance.

 
The main idea behind the different types of real estate insurance is to protect the owners if they find themselves in some type of unexpected tragedy. If something happens to go wrong, insurance can be the greatest decision ever made.

 
What type and what is the cost?

 
There are a few different forms of insurance related to home ownership, including the following four main types:

 
Title insurance: This type of insurance is bought at closing with a one-time fee and protects homeowners when the title to their property is found to be false or invalid. Title insurance includes “lenders” policies, which will protect the buyer up to the mortgage amount of the home. Also, it includes “owners” coverage, which protects the owner up to the purchase price of the property. In other words, the mortgage value and the amount of the down payment are protected by “owners” coverage.
Homeowners’ insurance: Fire, theft, and liability coverage are provided under homeowner’s insurance and lenders do require these policies. Surprisingly a number of different items can be covered by this type of insurance, such as wedding rings, home office equipment, and furniture.

 
Flood insurance: The federal government issues flood insurance and can supply as much as
$250,000 in coverage for single-family households and an additional $100,000 for contents. This insurance is usually required for homes in high-risk flood-prone areas. Speak with you realtor to find out which locations require such coverage.

 
Home warranties: If something goes wrong after the completion of a new home, buyers want the assurance that the builder will be available to them to make repairs. But what is the builder goes out of business or even refuses to do the necessary work?

 
If the home warranty is bought by the property from a third party, several forms of protection are generally provided. These can include mechanical defects such as wiring and plumbing for the first two years, workmanship for the first year, and structural problems for as much as ten years.

 
The home warranties for existing homes are usually bought by the seller and contain a one-year service agreement. The warranty company will make a repair or cover the cost of a repair in the event of a covered breakdown of defect.

 
Each insurance policy or warranty will have separate limitations and each individual program will have different types of deductibles, coverage, and costs. Speak with a realtor, home builder, or insurance broker today to find out all the necessary details.

 
Where should you look?

 
Home insurance is often supplied by realtors and insurance brokers also provide policies.

 
How does one obtain insurance?

 
The right time to get warranty coverage and insurance is at closing, so prior to closing make sure you talk with a realtor or insurance broker. During your meeting it is important to ask about costs, limitations, deductibles, and “endorsements” (further forms of coverage that may be accessible to you).

 
This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a
wide array of mortgage programs to eligible borrowers nationwide.
If you or someone you know has questions about home financing in Oklahoma or nationwide,
contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732.
www.OklahomaMortgageBank.com

 
During the mortgage process, a lot of time is spent thinking about offering prices but a proposal to buy contains both the price and the terms. This is extremely important to know because in some circumstances the terms can add up to thousands of dollars in added value for buyers or just additional costs. With this in mind, your terms should be carefully reviewed. Our team of Oklahoma Mortgage experts has created a list of the most frequently asked home offer questions and provided their answers.

 
How much should I offer?

 
People always say that you should offer a certain percent below the seller’s asking price or a different
percent less that you are actually willing to pay. This makes sense in theory but in practice the offer relies on the simple laws of supply and demand. If numerous buyers are competing for certain homes, the sellers will most likely receive full-price offers and sometimes even more than that. If the demand for homes is low, then offers that fall below the asking price may be accepted.

 
How is an offer made?

 
The process for which one can make an offer varies nationwide. In an average situation, you and your realtor will complete and offer that he or she will later present to the owner and the owner’s representative. In response, the owner may accept, reject or make a counter-offer.

 
It is extremely important for buyers to stay in close contact with their realtors during the negotiation
process since counter-offers are very common. Any change in an offer can be deemed a “counter-offer” and these changes need to be quickly reviewed by a realtor.

 
What inspections are necessary?

 
Most required inspections are common to residential realty transactions. They include but are not limited to termite checks, appraisals to decide on a value for lenders, surveys to determine property boundaries, structural inspections, and title reviews.

 
Structural inspections are one of the most important. During these checkups, an inspector visits the property to determine if the home contains any material physical defects or if heavy repairs and replacements are seen to be required in the near future. For a single-family home, these inspections usually require anywhere from two to three hours for completion. Buyers should definitely attend because it gives them an opportunity to learn about the property in depth and see more than is possible with an informal walk-through. Buyers are able to examine the property’s structure and mechanics as well as ask any questions they may have.

 
This article was brought to you by Oklahoma Mortgage Bank. Oklahoma Mortgage Bank offers a
wide array of mortgage programs to eligible borrowers nationwide.

 
If you or someone you know has questions about home financing in Oklahoma or nationwide,
contact our Oklahoma mortgage team: (405) 586-0382 or (800) 659-6732.
www.OklahomaMortgageBank.com

What type of home loan do I need?

Though there are tons of mortgage options made accessible by different lenders, typically the loan you choose will be determined from a few key factors:

• How much do you plan to put down? There are some loans available with 5 percent down
  or less – actually, in recent years, major lenders have financed loans with no money down.
• If you plan on placing a down payment of 20 percent or less, lenders will ask that the mortgage be backed by an outside third party. Some include the Federal Housing Administration (FHA) or the Veterans Administration (VA). Another option is private mortgage insurance (PMI). This is necessary to protect the lender from possible mortgage defaults. Every year, millions of FHA, VA, and PMI loans are generated.
• Do you have a good line of credit? Eligible borrowers with good, solid credit are granted the best terms and rates. If you wish to receive a great loan, make sure you are paying in full and on time all of your installment payments, credit card notices, rent bills, and mortgage bills.
• Is this your first time buying a home? It can sometimes be perceived that “first-time buyer” refers to a person who has never owned property in the past. This is not always true. Under several state programs, this term refers to a person who has not owned any property for the previous three years.

How can I obtain a home loan?

To begin the mortgage process you must fill out a loan application as well as provide all necessary documentation. Some of the documents needed include current paycheck stubs, copies of recent bank statements, and if you are self-employed, tax returns and rental checks from the past two to three years are required. Your loan officer will explain in detail all of the paperwork you need to provide during the prequalification procedure.

Where can I go to get a home loan?

Our team of experienced, Oklahoma loan officers are available to assist you with your future home financing. Customer service and satisfaction is our top priority at Oklahoma Mortgage Bank and our team of professionals understands how challenging the mortgage process can be; therefore, we walk our clients through every step and are absolutely available to answer any questions that may arise. Contact us today about our mortgage programs and let Oklahoma Mortgage Bank turn your home ownership dreams into a reality!

]]> http://www.oklahomamortgagebank.com/10-steps-to-home-ownership-series-step-6-get-financing/feed/ 0 http://www.oklahomamortgagebank.com/how-to-save-money-on-your-electric-bill-this-summer/ http://www.oklahomamortgagebank.com/how-to-save-money-on-your-electric-bill-this-summer/#comments Tue, 17 Jul 2012 08:32:45 +0000 astewart http://www.oklahomamortgagebank.com/?p=1344 This guest post was provided by the Ames Apartments experts at Jensen Group.

When you own a home, your electricity cost can at times be one of your highest bills. As temperatures and electricity continue to rise together, energy bills become increasingly less affordable. However, there are a wide variety of practices that you can help you save money on your electric bill. Here are
our top tips for keeping those electricity bills manageable:

1. First, check the lighting in your home.

You may be using bulbs that use excess wattage and just aren’t practical to use in your bedroom or kitchen but can be replaced with more efficient bulbs. Do some research online and find out which types of bulbs are most efficient for different types of rooms and lighting. Also, get into the habit of turning lights off so they don’t use energy when it’s not needed.

2. Keep your fridge in check!

Staying on top of your refrigerator maintenance is key. This includes making sure the cooling coils in both the refrigerator and the freezer are clear. Another tip to help your fridge run better is to go to the bottom and back of the unit and clean out the vent. Finally, do a regular defrosting to get rid of any thick ice surrounding the freezer container.

3. For the other appliances, simply turn them off when not in use.

When you leave your house be sure all appliances are turned off and unplugged, as most electronics use electricity even when turned off.

4. Procure a wattage meter that can measure how much electricity the devices around your home are using.

They normally are pretty inexpensive, usually less than $20, and provide a quick do-it yourself method for effectively monitoring your energy consumption.

5. Try doing everyday tasks with minimal electricity.

Examples include drying your clothes outside, taking indoor tasks outdoors, and using cold water whenever possible.

6. Finally, contact your electric company representative.

A growing number of electric companies now offering “time-of-use plans” which offer lower rates for energy consumption during off-peak hours. The catch is that users often pay more for peak-hours use, so consider the daily schedule before signing up. All you have to do is ask!

While some of these points may be harder to accomplish than others, be sure to keep the long-term benefits and savings in mind. The savings can truly pile up if you can start thinking green!

]]> http://www.oklahomamortgagebank.com/how-to-save-money-on-your-electric-bill-this-summer/feed/ 0 http://www.oklahomamortgagebank.com/10-steps-to-home-ownership-series-step-5-choose-a-home/ http://www.oklahomamortgagebank.com/10-steps-to-home-ownership-series-step-5-choose-a-home/#comments Wed, 11 Jul 2012 08:22:56 +0000 aframsted http://www.oklahomamortgagebank.com/?p=1329 Choosing your first home is one of the biggest decisions you will ever make; therefore, selecting the right one is extremely important. Since you will be the buyer in this situation, our team of Oklahoma Mortgage experts has provided a simple breakdown of what happens during the home buying process and how to decide if the home is right for you.

What are the steps of the home buying process?

The seller makes the first offer by placing his or her home on the market for an established asking price and other terms. At this point, you (the buyer) have three options: reject it and not make an offer, suggest different terms and make a counter-offer or accept the offer and generate a contract. The bargaining between the seller and the buyer is probably the most complex step of the home buying process, but with the help of an experienced real estate agent a negotiation will more than likely be reached.

How can you tell if it’s THE house?

While a house is just a shelter, a home is much more. Your future home is where you live, unwind, entertain friends, visit with family and sometimes even work. It is where you spend much of your life, so choosing the right home is an extremely important decision.

How do you know if a house is the right one for you? Our mortgage team recommends viewing as many houses as possible. This will allow you to be certain when deciding if a home is truly the one.

Do you want to go inside the house?

When you first pull up the house with your realtor, do you immediately feel a rush of excitement and want to bust the front door down to see the rest? Or does the house to the right of it seem more appealing? If you find yourself more attracted to the other houses, it is probably a sign that this particular house is not the right home for you.

Does the house embrace you the moment you enter?

Your initial impression of the home sets the tone for the rest of the viewing. If you are not impressed
within the first three seconds of being in the home, the chances that you will enjoy the rest of the tour are slim.

Do you begin to envision how you will arrange your furniture?

If you walk into the living room and immediately see your TV mounted on a particular wall or you walk into the kitchen and imagine entertaining family and friends, you may be hooked. One of the best signs of finding the right home is when you start to imagine the layout of your furniture. When you see yourself making a life there, a simple house becomes a home.

Are you ready to stop looking at houses?

If the houses on your list no longer appeal to you, you may have found the right home. Also, if you find yourself re-rating homes a two that were once an eight in your book, you are more than likely ready to throw your towel in and purchase your new home.

Is everything in your mind telling you to buy that house?

When you have come across the right home, you will know. Everything in your mind will be telling
you that this is THE house.

Can you afford the home?

This is where our step two of the home ownership process, or the pre-approval step, kicks in. If you get pre-approved for a mortgage, you have a fairly accurate idea about how much you can borrow from the lending company and how much you can afford each month for the mortgage. A pre-approval also gives you a heads up on what mortgage programs you qualify for and which ones will work best for your current situation.

While a pre-approval is not a loan guarantee or commitment, it does provide lenders with the opportunity to check such items as your latest credit reports and appraisals. Other than fluctuating interest rates, a mortgage pre-approval does provide a logical, careful analysis of what you can afford.

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