When you speak with a lender regarding getting pre-approved for a loan to buy a home in Irvine, the lender you use will determine a purchase price that you will qualify for based on the information you provide.  The question is, just because you have been approved for a purchase price, doesn’t always necessarily mean you may want to go that high.

The way to determine what price point you will feel comfortable purchasing at is by requesting a Good Faith Estimate from your lender.  Depending on the different purchase price scenarios, one can easily get a detailed breakdown of their monthly payments.

Avoid problems or surprises in the future and make sure that you know not only what you are approved for, but you also know what monthly payment is associated with that purchase price and make adjustments if necessary.

For more information on a Good Faith Estimate, or to speak directly with a lender and start your loan pre-approval process today contact Robert Mack.

I’m pre-approved for “X” dollars for my new Irvine home. Do I want to go that high? is a post from: