Before the search for your new home begins, it is necessary to have a pre-approval letter. ERA offers a quick pre-approval process that provides buyers with a pre-approval letter. The pre-approval letter, which will be presented to a seller when you make an offer on a home, demonstrates to the seller that you are financially capable of completing the purchase. Simply call ERA’s toll-free number – 1-866-566-5549 – to speak directly with a Mortgage Loan Consultant. You should have on hand the following information:

• Current salary and two-year employment history
• Bank/investment account balances
• Credit card and current loan balances
• Any bankruptcy or credit problems

The entire pre-approval process is amazingly fast. After the consultant gathers your financial information, it takes only 30 seconds for ERA’s computer system to access your credit report. You are guaranteed a loan decision the same day and in most cases, right over the phone within 15 minutes!

Use my mortgage calculator to determine an approximate monthly payment of principle and interest for a 30 year mortgage at various interest rates.

If you are confused about a certain term or phrase, browse through this fantastic real estate and mortgage glossary to help with your understanding.

If you are already working with a particular bank for your loan package, you can pre-approved through them.

The mortgage lending institution representative will explain to you the different types of mortgages available. Once you have selected the type of mortgage that best fits your financial needs, the lender will prepare a Good Faith Estimate of the closing costs usually within days of your loan application. These costs are your responsibility and are paid on the closing day.