FHA insured loans are mortgages that are insured by the Department of Housing and Urban Development — which means the government is essentially guaranteeing it will pay the mortgage if you cannot. FHA insured loans require a much lower down payment on a house than most other financers…usually just 3.5%. Plus, qualifying for an FHA insured loan is often easier than qualifying for a conventional mortgage — making it attractive for homebuyers and homeowners alike.

Pre-approval is more involved and carries more weight than pre-qualification. With Lending Hand, this process will be as simple and streamlined as possible so you can start finding your new home. We’ll calculate the specific mortgage amount for which you are approved. You’ll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock-in a specific rate. With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller because it’s clear you are very close to obtaining the financing you need.

Your credit score is calculated with a mathematical formula. It uses information in your credit report and compares it to information on tens of millions of other people. The resulting number is a highly accurate prediction of how likely you are to pay your bills. People with the highest credit scores get the lowest interest rates. Your credit score considers both positive and negative information in your credit report. Late payments will lower your credit score, but establishing or re-establishing a good track record of making payments on time will raise your score. Call 800-555-1234 or message us to speak to a loan officer to get more information.

Getting a home appraisal is a standard part of the mortgage process. Lenders like Lending Hand will give customers a loan based on the appraisal value of the property they’d like to buy or refinance. Appraisals are conducted by 3rd party companies and are not influenced by Lending Hand. Home appraisals are determined by comparing recently sold, comparable homes in the same neighborhood as your home or the home you are interested in purchasing or refinancing. The appraisal company provides a report to Lending Hand after the appraisal is conducted. Quite simply, when you use a home for collateral for a loan, the lender wants an appraisal report to make sure the loan will be guaranteed by the value of the property.

The best way to start any mortgage process is with the help of a lender that’s 100% on your side — and that’s Lending Hand. Simply call 800-555-12324 or fill out our quick, no-obligation and confidential GET PRE-QUALIFIED FORM now.

Your Mortgage Specialist will start working right away to find your ideal mortgage and will be with you every step of the way. This streamlined, personalized approach means the entire process will be as simple and stress-free as possible. In fact, it can all be wrapped up in as little as 21 days after receiving all your documents. There’s just no better way to take the next steps toward a better financial future.