Getting Pre-Approved for a Mortgage

Foundation Square News

Tuesday, October 06, 2009

A mortgage is more often than not a required component when purchasing any kind of Virginia real estate, whether it’s a single family, a condo or otherwise. Unless you’ve got pockets deep enough to pay for a property in full, you’ll need to get approved for a mortgage. The process for getting pre-approved is really easy and can save you lots of time and give you an advantage.

The easiest step is the application. If you’re looking to buy a condo in Foundation Square, you have multiple options: the Web (visit our Financing Page for a link to the secure and easy SunTrust Mortgage online mortgage application) , phone, or in person. When you call Jolynn Musel at SunTrust Mortgage (757-253-9303) you’ll get a response within a day or even within a few hours. However, your approval is determined by several important factors.

Things get a little tougher when it comes time to evaluate your finances. Obviously your credit plays a major role in determining your eligibility so the higher the score the better off you are. Because your credit says a lot about your financial responsibility, make sure not to have any late payments. This also applies to any current loans you may have although in some cases it may be necessary to pay them off before receiving approval.

If you carry a lot of balances on several credit cards, these may also work against you as it means you have less credit available to you. Essentially, having steady employment and being as debt free as possible will earn you big points in finally getting the okay to go out and buy Virginia real estate.

Whatever your situation, rest assured that Jolynn Musel, SunTrust Mortgage, will work with you to determine the best loan program available that is tailored to your needs.

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Agency Disclosure: Andrea Weiser and Vicki Costanzo, Long & Foster REALTORS, licensed in the Commonwealth of Virginia, represent the Developer, Foundation Square, LLC.

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