We explain why loan promise is good and give you links that can help
If you are planning to buy a house and need to borrow money for this, the first step is to take out a loan pledge. If you obtain a loan pledge, you will receive a written document stating how much a certain bank may intend to lend to you.
Such a document is very good that he when you look at housing as it gives you an opportunity to know in what price ranges you can look. Furthermore, the loan promise also helps you when it comes to bidding, as a loan promise is seen as a sign that you have the financing to a large extent ready for the house purchase. For example, if you come into bidding with some others and you have a loan promise which the others do not have, the chance that your bid will be accepted is greater. It is simply less risk for the seller.
Promise is not the same as loan
It is important to remember that a loan pledge is not the same as borrowing this amount. The loan promise you have for 6 months and during this time you will be able to borrow the money that the promise says provided that nothing has changed negatively with your finances.
It is quite logical if you think about it a little more closely. Say, for example, that you have taken out a loan pledge but then been terminated from your job. Unfortunately, if you have been terminated, you have a lower income, which means that the size of the loan you can pay back is reduced. Then, for example, your loan promise would not apply. But if nothing has changed, you can, with the utmost certainty, feel confident in borrowing the money.
How and where do I get a loan promise?
Getting a loan promise is very easy and another thing that is positive is that it does not cost you anything at all. What you need to do is either fill out the form available online for the lender you intend to use or alternatively contact them directly. What is done is that a credit report is made on you that shows how much money you can borrow and after it is done you get a document saying how much money you can borrow. Very simple and as I said was free.
You can also take out several loan pledges from different lenders if you wish. It is a way to get extra security and you can also get a little better look at how much you can borrow from different lenders, so that you know what your options are and where the limit is for your house purchase.