(Before you start looking for your dream home!)
**GETTING PRE-QUALIFIED IS FREE**
WHAT DOCUMENTS WILL YOU NEED?
The Mortgage Lender that you have chosen will show you how much you can afford according to your Credit Score, W-2, and 2 months of pay stubs
You typically need to have been in the same line of work for 2 years to qualify
WHAT WILL YOUR LENDER SHOW YOU?
Different types of mortgage programs and interest rates you qualify for
Give an estimate of your monthly payment, this helps you create a budget to buy your dream home
Discuss what you are REALLY comfortable paying monthly–you may qualify for more than you want to spend!
You will see an estimate of what your down-payment and closing costs will be for the loan
Your Lender will give you a Pre-Qualification Letter that will show seller’s that you can afford to make an offer on their home, and it is a good idea to submit this with an offer to by a home
A REALTOR® typically will not show homes until the buyer is Pre-qualified, why look at homes if you don’t know what your price range is?
Do you feel that your Lender has your best interest in mind, have they shown you options, answered your questions, and made you feel comfortable in the process?
This is a major investment and life change, please take the time to protect your future by choosing a loan that fits your needs and your budget
Pre-qualification information will help guide you towards purchasing your new home
You will know how much you can afford, how much you will be expecting to pay, and set you on a successful home buying path!
I recommend you get Pre-Qualified whether you are looking to buy now…in 6months… or even in a year or two so that you know where you stand!