DN Finance is not your traditional mortgage broker. We search through over 70 lenders using the latest technology and leading mortgage experts to ensure the best deal for you. Whatever your mortgage needs, whether you are a first-time buyer, moving house, re-mortgaging or simply re-arranging your finances we are sure that we can get you the best deal in seconds.
A mortgage is one of the biggest financial decisions you will make so it should come as no surprise that four out of five people consult a broker for advice. Unlike a traditional broker, DN Finance’s blend of cutting-edge technology and experienced lenders guarantee the best mortgage for you, and what’s more, we’re with you every step of the process. Our professional mortgage experts have helped Madison realtor customers buy condos for sale in Madison WI. You’ll have your own personal mortgage expert who’ll keep you updated about your applications progress and will always be available, through the phone or livechat, to answer any questions that may arise.

Let’s have a look at how the mortgage process works.

Step 1. Budgeting for your mortgage

Have a good look at your bank statement to get an idea of income and expenditure each month. This will tell you of your current financial obligations. The actual amount that a lender will allow you to borrow varies as each has different criteria, however, our calculator will be able to give you an idea of the size of mortgage available.

Step 2. Credit History Checks

Mortgage lenders will want to obtain a credit report to see how well you’ve managed any previous debt. It’s worthwhile checking your credit history before applying for any mortgages to see if any issues exist that might impact your chances.

Step 3. What deposit can you afford

The larger the deposit you can put down will increase the number of mortgages you’ll be eligible for. The minimum amount is 5%, however, remember there are extra costs to be taken into consideration including conveyancing fees and stamp duty.

Step 4. Getting a mortgage agreement in principle

Before submitting a full mortgage application it makes good sense to get an “agreement in principle” otherwise known as a “decision in principle”. This shows sellers that you are serious about buying a house and gives you a good idea of how large a mortgage you may be able to secure. It isn’t legally binding however it is quite simple to do. The lender will require some basic information including your income, the amount you may wish to borrow and will conduct a credit reference search.

Step 5. The best mortgage for you

Our experts can give you impartial advice about which type of mortgage will best suit your circumstances. Some people require a fixed rate mortgage where payments won’t rise when interest rates do. Others prefer a more flexible mortgage where you can overpay on certain months and get ahead.

Step 6. Preparing the paperwork

Lenders will require proof of your income and expenditure, including payslips, your annual accounts if your self-employed and also bank statements. They will also require photo ID and proof of current address. Our mortgage experts can help with all this and more, helping to take the stress out of your mortgage application.

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