Hello! I have lived in my parents’ house with my girlfriend for 3 years. We recently got married and we moved to another house for which we are paying the rent. My wife is pregnant now and I was thinking that we should take a mortgage to buy a house for my family. A went to one bank and I have made an application for a mortgage. My wife and I even found a perfect house for us. I am only afraid that my mortgage application will be refused and that it can be very stressful for my wife in her condition. How can I find out what is going on with my mortgage application? Is there any way for doing this?
Decision to buy a place for a first time could be very exciting experience. Unfortunately it can also be both very daunting and confusing. Typically when new buyers are making the mortgage they have little or no thought how the whole procedure works. Sometimes buyers spend months on finding the perfect house for them. When they finally find the property of their dreams they make an application for the mortgage like you did without even considering are they eligible to borrow that amount of money. They are often been refused and this could be very stressful and can cause real defeat and letdown. This is why it is very important to wait for a mortgage preapproval. With mortgage preapproval you can start finding your new place with some insurance. You will already know how much money you can borrow. With this insurance you will know how much you can afford and there will be no letdown or wasting your time.
