Mortgage FAQ's | Abana Mortgage

What are the main steps in the mortgage application process?
The process typically includes pre-approval, property appraisal, document submission, underwriting, and final loan approval. Each step ensures your financial readiness and property eligibility.
Who qualifies for a mortgage?
Eligibility depends on income stability, credit score, debt-to-income ratio, and down payment ability. We assess these factors to find the best mortgage options for you.
What tips help first-time homebuyers secure a mortgage?
Maintain a steady income, reduce debts, save for a down payment, and review your credit report early. Preparing these elements improves your chances of approval and better rates.
How long does the mortgage approval take?
Approval times vary but generally range from 30 to 45 days. Timely document submission and clear communication can help speed up the process.
Can I apply for a mortgage with a low credit score?
Options exist for applicants with lower credit scores, though terms may differ. We work to identify suitable lenders and strategies to improve your application.

Mortgage FAQ's: Process, Eligibility, and First-Time Buyer Tips