VBS Mortgage Blog -

When you begin the home buying process, you will hear time and again the importance of obtaining a PreApproval Letter prior to starting your home search.  However, understanding the PreApproval is not such a common topic of conversation.

Here are 3 tips of making your PreApproval work for you:

1. Make sure you obtain a PreApproval, not a PreQualification.  Getting prequalified for a mortgage gives you an estimate of what you can afford, but does not include the pulling of credit.  Realtors and home sellers will want to see a PreApproval, which provides a much more accurate estimate.

2. Have your PreApproval Letter adjusted to reflect the offer you are making.  Though you may be PreApproved for a $200,000 mortgage, you may only want to offer $170,000 on a home.  Have your mortgage lender adjust your letter to accurately portray what you are offering.  This way, you will avoid inadvertently swaying a counter offer just because a seller knows you can pay more.

3. Follow the Dos and Don'ts of Getting a Mortgage to make sure your letter remains accurate.  Don't forget that your finances will be carefully reviewed during the mortgage process by your processors and underwriters, so make sure you aren't changing your financial picture mid-stream.

We are here to help!  If you are ready to start house hunting, contact us!  One of our experienced Mortgage Advisors will help walk you through the mortgage process.

Though, in many ways, the process of Mortgage Application and Closing, a home buyer's finances will be scrutinized and it is important to maintain a consistent financial portfolio.  

When shopping for mortgage loans, consumers often focus on the mortgage rate a lender offers because the rate of interest charged on your mortgage has the largest overall impact on the cost of your loan (aside from the amount of loan itself.)  However, few people fully understand how the rate is calculated and how to understand the direct cost of a mortgage rate.

It is a VBS tradition to team up as a company and spread cheer throughout the holiday season, and 2014 has been no different.  Our commitment to our community extends past providing a trustworthy and dependable solution to mortgage needs. We believe being blessed by a community comes with a responsibility to also give back to the least fortunate neighbors of that community.  

It's holly jolly holiday time, which means lots of wonderful family time... and also lots of cramming as many people as possible into your home when you are the host.  Here are 5 preparations you can make to ease the stress of lots of guests:

Several years ago our church conducted a study to find out what non-church related community volunteer activities our members are involved in. The result was astounding; our members are involved in hundreds of non-church affiliated missions in the community and around the world. The implication of such a diverse network of volunteers is a rich collection of experience and perspectives on which the church membership can draw.

The SVBA exists to protect the local building industry. But the SVBA has the same diversity of services outside the typical building and construction industry among our membership, and our members represent virtually all professions in the Harrisonburg area, providing a rich collection of experience and perspectives for our membership.