Before Finding A Home, Find Your Mortgage

Most people start the homebuying process by searching for the home of their dreams. When they find it, they make an offer. If their offer is accepted, they apply for a mortgage … and may be disappointed to discover that they don’t qualify.

If you’re planning to buy a home — especially if you’re going through the process for the first time — we’d like to suggest a better way: apply for the mortgage before you start looking at houses. With our Mortgage Preapproval program, we’ll be able to determine how large a mortgage you’ll qualify for. That way, you’ll know exactly how much home you can afford to buy, and won’t have to worry about getting denied when you find the right place.

Having a preapproved mortgage will also give you more negotiating power with the seller, especially if you’re competing with other potential buyers. If the seller knows that you’ve already been approved for a loan large enough to buy the home, they’ll be more likely to accept your offer instead of an offer from a buyer without preapproval. You may even be able to negotiate a better price.

We make the Mortgage Preapproval process fast and easy for our members. You can apply in-person, by phone at 317.817.9700 , through an email to mortgage@imcu.com, or online http://imcu.com/Mortgage-Loan-Application-Process.aspx. It takes about 20 minutes to complete the application, and our mortgage professionals are happy to help you with the process. As part of your application, we’ll ask you for some documents. Depending upon your personal situation, that may include recent tax returns, pay stubs, and/or bank statements.

Our mortgage professionals will review the documents and your application, and they’ll check your credit report. They’ll consider your income and any other debt that you owe, such as credit cards or car loans, to determine how much of a monthly payment you can comfortably afford. Then they’ll compute how large of a mortgage you would qualify for, and what that means in term of home prices. (If you don’t qualify, our mortgage team can offer steps you can take that will help you qualify in the future.)

Our Mortgage Preapproval makes homebuying easier and far less stressful. So if you’re planning to buy soon, get in touch with us before you start looking at homes. You’ll be happy you did!

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