One of the most commonly used method for a person wanting to own property or home of his own is through a mortgage. In passing, it would suggest the assistance of creditor to a debtor and a condition of payment for a specified period. In, sense would mean borrowing money and paying it in a particular manner as agreed by both parties. There are many things to consider for an approval of a mortgage. And one of the unique and uncommon factors was reported by Andrea Riquier in her article:

 

Mortgages Are More Likely to Be Approved When It's Sunny, Research Finds

 

A recent paper published by the Cleveland Fed found a strong link between sentiment influenced by weather and mortgage approvals. As might be expected, positive sentiment, which emerges in sunnier weather, leads to higher credit approvals, while rainy-day moods result in tighter credit conditions. Using the database of the National Oceanic and Atmospheric Administration, the researchers analyzed data in more than 2,000 U.S. counties from 1998 to 2010. Sunny sentiment boosts approvals for credit applications by 0.80% while approvals drop by 1.41% on overcast days. Read full post...

Aside from seemly basing your chance of being approved for the weather condition, it would be logical for you to prepare yourself and the necessary materials needed for approval. Before the final approval, you should be more concerned of the pre-approval. And Michele Lerner shared some tips on how to properly approach a pre-approval stage of a home mortgage:

5 Things You Need To Be Pre-Approved For A Mortgage

 

First, they have an opportunity to discuss loan options and budgeting with the lender. Second, the lender will check on their credit and alert the would-be buyers to any problems.

Third, the buyers learn the maximum they can borrow and therefore have an idea of their price range. However, all buyers should be careful to estimate their own comfort level with a housing payment rather than immediately aiming for the top of their spending ability. Lastly, home sellers expect all buyers to have a pre-approval letter and are more willing to negotiate with people who have proof that they can obtain financing. Read original post...