If you are searching for a home in the Mankato area, Coldwell Banker Welcome Home Realty is here to help you. When you buy a house in Southern Minnesota you may need a home mortgage. We have tools to help you determine how much financing you may be approved for, based on how much you can afford to spend on a home loan.
Our sales associates can provide detailed information on almost any property currently listed for sale - whether it's listed by Coldwell Banker Welcome Home Realty or another real estate company.
Use this handy calculator to help figure out how much you can afford to spend on a home.
This material is intended for example purposes only and is not a commitment for financing. This worksheet is intended for use on primary residences. Your rate and affordable price will vary, depending on the size of your down payment, specific terms of your loan, other monthly obligations and the amount of assessment fees, if applicable.
Coldwell Banker Welcome Home Realty has developed a set of service standards based on experience and understanding gained from millions of home buyers.
In today's fast-paced real estate environment, home buyers need every possible advantage. Coldwell Banker Welcome Home Realty has made home buying simpler by helping buyers get "preapproved," and not merely "prequalified." What is the difference?
You will have a greatly improved negotiating position when you are preapproved for a mortgage. Sellers are more apt to negotiate with someone who already has a mortgage approval in hand. The pre-approval letter lets the seller know they are working with a serious buyer. A preapproved buyer can also close on a property more quickly - another major consideration for a motivated seller. Obtaining a preapproved mortgage is essential in a "sellers' market" or where supply is limited.
Pre-approval uses basic information as well as electronic credit reporting. It is a true mortgage commitment. Which means a commitment to financing your home and an indication of the total mortgage amount available to you. Coldwell Banker Mortgage can help you through the pre-approval process. There is no charge for this service.
Pre-qualification is not a full mortgage approval, but an estimate of what you can afford. When you prequalify for a mortgage, the lender collects basic information regarding your income, monthly debts, credit history and assets, and then uses this information to calculate an estimated mortgage amount.
For more information about mortages visit our Mortgage Process page.