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By Dan Green

The Minimum Standard Of A Pre-Approval – Today's Mortgage and Real Estate News

The most important data in the FHFA House Price Index is what wasn’t reported at all; Today’s mortgage rate update for conforming loans, FHA loans, USDA loans, and VA loans; the overwhelming importance of a pre-approval and why sellers won’t listen to offers without them.

How’s The Market Where You Live?

Oh! The places you’ll go when you look for a home.

And, in most of those places, you’ll find home values are up.

Recent government data shows home prices rising another two percent through the last three months of last year nationwide, which means that buying a home continues to get more expensive.

How much more expensive? That depends on where you live.

According to the FHFA’s House Price Index, in the Mountain Region, an area which includes Colorado and Utah, homes rose 2.3 percent in value last quarter whereas in New England, homes rose just 1.5 percent.

Not that data like this matter to home buyers, anyway.

When you’re buying a home, you don’t care what’s happening on a national level with homes, or on a regional level, or even on a state level.

You care about that one house, in that one city, on that one street.

National reports are helpful to policy makers, economists, and companies with thousands of homes under management.

But, for buyers like you and me, it’s the local data we need. For that, get with a pro who can help.

Click here for today’s mortgage rates.

Today’s Mortgage Rates

Mortgage rates.

They’re biggering. And biggering. And, biggering and biggering.

After last week’s downturn, rates are again on the rise.

Conforming loans, FHA loans, VA loans and USDA — everything’s trending up.

So what rate can you get today? That’ll depend on your loan size, your credit score, and where you live.

How you pay your closing costs will matter, too. Choose to pay points and you’ll get access to lower rates.

Take your lender’s zero-closing cost option and your rates will be slightly up.

There’s no best way to structure a loan so talk to your lender and make the choice that’s best for you.

Click to get today’s mortgage rates.

You Need A Mortgage Pre-Approval To Offer On A Home

Would you could you own a house?

That’s the question renters ask themselves before starting their search for a home, and the first step in that search is getting a pre-approval .

A pre-approval is mock underwrite, a sample mortgage application based on a fictitious home at a fictitious price using your actual mortgage information.

Your income, your debts, your credit score — they’re all used to make your pre-approval and it gives the definitive answer to the question “Can I get approved to buy this home at this price?”

Pre-approvals are dry-runs for you and your lender which is why sellers don’t accept offers for their home without them.

Nobody wants their home off the market for a buyer who can’t get approved.

So be your name Buxbaum or Bixby or Bray, or Mordecai Ali Van Allen O’Shea, get pre-approved for that home, today is your day!

Your new home is waiting. So get on your way!

Get A Mortgage Pre-Approval Here

Click To Get Started!

Written by Dan Green

Dan Green is a personal finance expert and the founder of Growella. His expertise has been cited by The Wall Street, NPR, and CNBC; and, his advice has helped millions of people make better choices with their money. Dan hosts the mortgage news show "The Mortgage Minute-and-a-Half" three times weekly on YouTube.

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