All About Prequals
Why should you get prequalified?
Prequalifications are the all-important first step in the process, putting you in control of the house-hunting experience by telling you what you can afford, making it easier to act quickly, and giving you access to expert advice along the way. Click through to read what our home loan expert has to say about what prequalification is — and what it isn’t.
Turn that dream home into a reality! Our handy home-hunting checklist will help you check all the necessary boxes on a house before you put in an offer.
eClosing saves time (and trees!)
Many of our mortgages now qualify for eClosings, which means you could potentially close on your new home from anywhere you choose. In addition to eClosings, here are some of the many conveniences of using UBT for your home loan:
- Working with a loan officer who understands your financial big picture and recommends the right mortgage for you
- A brand your seller can trust; you’re presenting a prequalification letter backed by a personal review of your buying power
- A quick and easy online mortgage application
- Software that makes it easy for you to upload required forms and get them to your loan team right away
- If your mortgage qualifies for eClosing, you can streamline the process and close from virtually anywhere you choose
These home loans have a set interest rate for the entire length of the mortgage term.
Designed to finance luxury properties where large loan amounts are over limits set by the Federal Housing Finance Agency.
Adjustable-rate mortgages (ARMs)
An ARM is a home loan with interest rates that adjust over time based on the market.
NIFA loans provide funding for home loans to those who need assistance with down payments.
Federal Housing Administration (FHA) loans
FHA loans help qualifying buyers purchase a home with a low down payment and less restrictive qualifying guidelines.
VA loans offer veterans the chance to buy a home with no down payment (within certain guidelines).
These include bridge loans, lot loans, and cash-to-close loans that are designed to work within specific circumstances to make home (or land) purchases a reality.
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Loan products subject to credit approval.