![]() It only takes a few minutes, and afterward you can easily take the next step and let us know you'd like to get preapproved. If you're not sure which option is right for you, start by getting prequalified online. Your preapproval also comes with a PriorityBuyer SM Preapproval Letter that you and your agent can give to sellers when you make an offer, so they know you're a serious buyer. That's because when you prequalify, we perform a "soft" credit inquiry, which gives us information about your credit history and monthly debts, but this doesn't provide as much detail as a "hard" credit inquiry, which is required for a preapproval. Were Your Home Loan Center Platinum Pre-Approval Get pre-approved Select an agent Search for a house Learn about our mortgage options Earn Cash Rewards. The key difference is that a preapproval is a more accurate and reliable estimate based on a more complete view of your credit. Use our Home Loan Pre-qualification tool either on your own or with one other person. ![]() ![]() So get pre-qualified now Start a new pre-qualification. We will even give you a certificate to make sure sellers and agents will consider your offer. PURCHASE REFINANCE Share Loan amount Purchase price 60,000 - 2. The decision will need to be referred to a loan officer. Use our Home Loan Pre-qualification tool to find out how much you can afford when buying a house. Use this mortgage calculator to calculate estimated monthly mortgage payments and rate options. For instance, the minimum required down payment for an FHA loan is only 3.5 of the purchase price. FHA loans have lower credit and down payment requirements for qualified homebuyers. An FHA loan is a government-backed conforming loan insured by the Federal Housing Administration. Loans with this ratio under 80 are more likely to be approved. Use the Loan Prequalification Calculator from Educational Systems Federal Credit Union as a first step in determining your ability to qualify for a loan. Use this FHA mortgage calculator to get an estimate. However, the ratio of your loan amount of 200,000 to your real estate security value is 80.
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