Loan promiseOn September 18, 2019 by admin
If you are looking for a home, it is a good idea to have a loan promise. A loan promise is a written document that your lender prints where they say how much money you can borrow from them.
It makes a lot easier for your own planning when you buy a house when you know exactly what housing you can afford and which you cannot afford. The loan promise also helps to show that you have the financial muscle to back up a possible bid for a house. This is something that makes the brokers much happier.
If there is bidding on a house
It may even be that the seller accepts a lower bid if this bidder is clear with financing while another has not. Another reason to obtain a loan pledge.
Just keep in mind that a loan promise is not the same as letting you borrow exactly that amount. Things can change after you get the loan promise, which affects how much you can borrow. Therefore, the word loan promise is a bit misleading. A loan promise simply shows how much you can borrow at the moment you purchase it. Then it is most likely that once you take out the loan you will also be able to take it according to what the loan promise says, only that you can not be 100 percent sure.
The loan promise allows you to submit a bidding as the broker sees that you currently have the finances for it. Then the brokers know that things can change. Examples of things that can be changed from the time you got your loan promise are your job situation, the house and your ability to pay.
Therefore, keep in mind that you should never ever sign a contract until you have received clear from the lender that you can borrow what you need to borrow.
Where to get a loan promise?
You can get a loan promise from all lenders who offer Jonilages. You can apply for this directly online, by phone or by running down to their office. The loan promise is not binding and costs nothing to obtain.