Is it possible to get a mortgage loan estimation without actually having the job yet?

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For example, can you just go into a bank with estimations on yearly/monthly/per paycheck figures and leave with an estimation of what you could afford?
I have been working for the company for 5+ years, I just am receiving a new position (higher paid) than I currently have.

  1. Reply
    Aloishus W
    June 13, 2012 at 8:31 pm

    There are lots of estimators online that will do that

    here’s one from CNN, but there are others, too:

  2. Reply
    June 13, 2012 at 9:05 pm

    No. Lenders will want to see actual pay stubs and proof of stable employment of at least 2 years.

  3. Reply
    June 13, 2012 at 9:35 pm

    Mortgage loan is a term used for the loans secured by a property. Mortgage loans refer to a loan secured by residential property, often for the purpose of securing real estate. Mortgage loans are priced lower than other loan structures because the value of the property risk for the lender.

    A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.

  4. Reply
    June 13, 2012 at 9:38 pm

    You have to be very careful with most loan companies that advertise themselves on the internet. Most of them are fraudulent companies. There is this company my husband’s friend applied for, for a loan in West Africa Nigeria.they grant him the said amount he is looking for.I think i can give you the name and email address of the company so that you can contact them if you really want a loan.

    Contact them and explain your situation to them. tell them someone directed you to contact them.

    Good luck.

  5. Reply
    June 13, 2012 at 10:22 pm

    Why would a professional process all the documentation if requires to give you an estimate, when you can not move forward with a loan? I suggest you use online calculators like at, don’t forget to add in the taxes and insurance to monthly payments.

  6. Reply
    Unbiased Find a Mortgage Adviser
    June 13, 2012 at 10:30 pm

    Yes, usually you should be able to get an idea of what you would be able to borrow from a prospective lender. I suggest you take the above mentioned estimated earnings plus details of all your outgoings including other borrowings such as loans, credit cards, hire purchase, catalogue debts etc. and your saved deposit as you will probably require 10% deposit for the purchase of the property.

    If the lender refuses to help you directly then you could always contact an Independent Mortgage Adviser such as to obtain an estimate of your affordability.

    The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to

  7. Reply
    Beverly S
    June 13, 2012 at 10:48 pm

    It can be done, but most lenders won’t since it’s a waste of valuable time. You need a two year job history to get a mortgage loan.

  8. Reply
    June 13, 2012 at 11:28 pm

    Of course, you can get someone somewhere to give you an estimation.

    Be careful that you provide them with all the facts in a clear manner.

    If you are getting a promotion at your current company, that is a good thing.

    You needn’t walk into a bank. Most mortgage work is done via phone and online. Just go to a mortgage site and use one of their calculators. Plug in your gross income and follow the instructions. No need to physically go anywhere. It’s a pretty simple calculation.

    You can find mortgage calculators at and many other popular sites.

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