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Whether you are ready to buy a house now or planning to purchase one in the future, mortgage qualification is a crucial part of the home buying process. By getting a mortgage prequalification, you can save time by looking only at the homes you're qualified to buy. Plus, you'll increase your bargaining power with the seller and may enjoy a faster closing period.
There are many factors to consider before applying for a mortgage prequalification, including your choice of mortgage and finding the right bank lender. If you've been wondering whether homeownership is right for you, getting prequalified is your first step to answering the question, "Can I buy a home?" That's why Flagstar Bank offers mortgage prequalifications on standard residential mortgages, jumbo home loans, and more.
If you're ready to buy a house, Flagstar offers a variety of residential mortgage lending products that allow you to apply for a mortgage qualification:
In the past, traditional mortgages required you to make a 20 percent down payment. Today, many financial institutions are offering low- or no-down payment residential mortgages. These types of residential mortgages can be a good option if you are ready to buy a home for the first time and don't have enough money saved.
If you have additional questions about residential mortgages or the mortgage qualification process, contact a Flagstar Bank mortgage qualification advisor at (855) 372-5626.