pre qualification

One of the first steps in the home buying process is chosing a lender and getting prequalified for a motgage loan. The lender will ask you for your family income, the money you have available for a down payment, closing costs and cash after closing. They will review your credit report and any outstanding debts you may have and they will help you determine the amount you can afford for a monthly payment of principal and interest along with taxes, insurance, and possibly mortgage insurance. By determining this upfront, you will be in a better position to chose the home of your dreams.

There are many options to consider when choosing a lender and choosing a loan. It is important to chose a lender that understands your needs, will listen to your concerns and treat your money as you would. You have worked long and hard to get to this important time in your life and your lender must respect and honor your hard work and dedication in achieving your goals. With the recent turmoil in the housing market, it may seem as though there is no one left, or no one to trust. Not so! So where do you start? I can provide you with many referrals as well may your friends and family. You may also want to consider where you have your checking or savings accounts; which may be a bank or credit union.

There are a few different options you have available to you in the way of financing. There are low down payment loans, no down payment loans and loans that will require you to put money down. Chosing a lender to advise you as to the best loan available for your situation will start you on the road to your new home!

Chosing a lender is an important part of the home buying process. Take a look at my post on The Importance of A Good Lender to help you in making an informed decision. Make the Home of Your Dreams a Reality today! Chosing a lender is good first step!