At Norcom Mortgage, we pride ourselves on offering a diverse portfolio of mortgage products. Beyond the traditional offerings of FHA, USDA, Reverse, and VA loans, we also create our own, such as the NorFlex Home Loan and the Norcom Dream Home Loan. We do this because we recognize that the needs of each family and individual are different. We are now pleased to also offer the JumpStart Pre Approval Program with Rate Assurance, and share with you this product overview:
What It Is:
The JumpStart Pre-Approval Program with Rate Assurance allows a buyer to lock in their rate for up to 90 days while they search for the perfect home. If market rates increase during the 90 days, the buyer is guaranteed the lower rate. However, if market rates decrease, the buyer assumes the lower rate.
Why Is It Important:
A pre-approval positions a buyer to submit a strong offer when they have found a home they want to purchase. By submitting credit information and income documentation, Norcom can provide you and your real estate agent a pre-approval letter, which shows how much you can borrow. Should it come down to your offer vs. that of another potential buyer, the seller is likely to have more confidence in you, as you have already been pre-approved.
When Can it Be Used?
The JumpStart Pre-Approval Program with Rate Assurance is available for 30-year fixed-rate conventional, FHA, or VA loans. A Norcom Loan Officer is dedicated to helping you find the best option and is ready to help today!