Deciding What You can Afford

Determining what you can afford is a key step in the home buying process. Once you know what you can afford, getting pre-approved for a mortgage allows you to shop for a home with confidence.

Happy couple with baby applying online for a home loan

Getting pre-approved

Knowing how much of a mortgage you’re approved for gives you more buying power. Your purchase offer will stand out from the others when you also include a committment letter, which is proof of your ability to obtain a mortgage from a lender.

To apply for a mortgage or a pre-approval, you will need to provide information about your income, credit and assets.

With a Pre- Approval Certificate in-hand, you’ll have the leverage you need to successfully negotiate a home purchase.

Pre-approvals at People's United Bank

At People’s United Bank, we offer Homebuyer Advantage, a full mortgage pre-approval - a step beyond the pre-qualification process most lenders provide. We can pre-approve you for a conforming or jumbo product, fixed or adjustable rate loan program.

If you qualify, we’ll provide you with a mortgage committment and a Pre-Approval Certificate, good for 90 days from the date you applied.

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