Applying for pre-approval
A pre-approval establishes the amount you can reasonably afford to borrow towards the purchase of your first home. Consider the following benefits to getting pre-approved:
•Have a good idea of your finances - You will receive a better idea of how much you are qualified to borrow, saving time looking at homes that meet your affordability range. Your term and amortization, as well as estimated monthly payments, are provided at approval so you can use these figures when planning your overall budget. •Moving quickly - If you are pre-approved for a mortgage, you'll be able to move quickly to make an offer when you finally find the perfect home for you.
To learn more about personal finance tools and resources get started with helpful steps.
About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and $542 billion in assets (as of Jan. 31, 2013).
BMO Harris Bank is a trade name used by BMO Harris Bank N.A. Banking deposit and loan products and services are provided by BMO Harris Bank N.A. Member FDIC. Brokerage and Insurance products are offered through BMO Harris Financial Advisors, Inc. (BHFA) and M&I Financial Advisors, Inc. (MIFA), each a registered broker/dealer, member FINRA/SIPC, and SEC-registered investment advisor. Investment banking services are provided by BMO Capital Markets Corp. (BMOCMC) and BMO Capital Markets GKST, Inc. (GKST), a Municipal Bond Dealer and member FINRA and SIPC. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc. (Harris SBSB), an SEC registered investment advisor. Family Office Services and Investment advisory services are offered by Harris myCFO, LLC (Harris myCFO), an SEC-registered investment advisor. Stoker Ostler Wealth Advisors, Inc. (Stoker Ostler) is an SEC-registered investment advisor. Investment advisory services to institutional clients are provided by BMO Asset Management Corp. (BAMC) or its wholly-owned subsidiary HIM Monegy (Monegy), SEC-registered investment advisors. Products offered by BHFA, MIFA, BMOCM, Harris SBSB, Harris myCFO, Stoker Ostler, BAMC and Monegy, which are affiliated companies and wholly owned subsidiaries of BMO Financial Corp.,: Are not insured by the FDIC or any Federal Government Agency, not a deposit of or guaranteed by any Bank or Bank Affiliate, may lose value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Not all products and services are offered in every state and/or location.
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