Frequently Asked Questions

This content is for informational purposes and does not constitute legal or financial advice.

What is the best way to search for a home?

Customers can either look at local property listing sites online, in the local newspaper or hire a real estate agent to search for homes. Real estate associations are also helpful resources when looking for homes in more distant areas.

imortgage offers convenient assistance through our real estate partnerships to give customers a more successful home buying process. 

Which home loan is best for my home?

A lot of research goes into choosing the right mortgage for your home. imortgage provides mortgage calculators, mortgage consulting and other resources to help customers make an educated purchase and fully understand the home buying process. A home loan is not dependent on the home, but the future owners’ financial needs.

Our imortgage professionals can assess buyers’ financial standing, budget and future goals to determine the best loan for them. 

What is the difference between a pre-qualified and pre-approved mortgage?

While a pre-qualification is an informal confirmation from a mortgage lender that says you can afford your mortgage using unconfirmed financial information, a pre-approval is a written agreement in which a lender determines the maximum loan amount homeowners can receive. Pre-qualification is one of the first steps of the home buying process; a pre-approval will occur once you have found a home to purchase and submit a full loan application.

Feel free to use our mortgage loan calculators to determine your affordability and suggested payment contribution! 

What are the benefits of being pre-approved for a mortgage?

Homebuilders and sellers will find mortgage offers more appealing if a homebuyer is pre-approved because it tells them the buyer will be able to make their payments after the sale. Pre-approval also allows homebuyers to have faster closings; benefiting all parties in the long run. For first time homebuyers especially, pre-approval can make it easier to negotiate the listing price of a home.  

Does the amount of time a home is on the market make a difference?

Before purchasing a home, buyers should research how long the property has been for sale to negotiate an appropriate price. If a home has been on the market for quite some time, a buyer may be able to negotiate the price. It is helpful to invest in a home inspection before placing an offer to prevent overspending and decide if other options should be considered. 

How much should I offer on a home?

Real estate agents help sellers and homebuyers reach a compromise on housing prices during the home buying process. Offering too little could cause a home to be sold to a higher bidder, and offering too much could leave less money for other home expenses.

imortgage partners with real estate agents to help buyers make the best purchasing decision at the most affordable price. Talk to one of our mortgage professionals today if you would like a recommendation.