HOME LOAN PRE-QUALIFYING

If you’re ready to make your dream of owning a home a reality, you’ve probably already heard that you should consider getting prequalified for a mortgage. Find out how much house you can borrow before you start looking. Home buyer workbook included.


One Step Closer to Homeownership:


Pre-Qualification FAQ

frequently asked questions:

Documents required for review:

• 2 year tax returns including W2’s 

• Bank statements for 2 months 

• Paystubs for 1 month

• Full Credit Report (We can provide with consent)

What is mortgage prequalification?

Mortgage pre-qualification is an evaluation by a lender that determines if you would qualify for a home loan. It also shows how much the lender would be willing to lend you. Getting pre-qualified is the first step towards getting a mortgage, but it does not guarantee a loan. Your pre-qualification letter should be submitted along with your offer to show sellers that you are a serious and qualified buyer.

How to get pre-qualified for a mortgage?

The lender will ask for some basic information about your financial history and will need to run a credit report. If you meet the lender’s guidelines for issuing a loan, he or she will issue you a pre-qualification letter, which states the home loan amount the lender is willing to let you borrow.

How long does it take to get prequalified for a mortgage?

Because it’s an informal, nonbinding evaluation, you can get pre-qualified in a day or two, sometimes less. Depending on the lender, pre-qualification can happen in person, over the phone or online.

Why should I get pre-qualified for a mortgage?

There are a number of reasons why it’s a good idea to get pre-qualified for a mortgage. A pre-qualification letter can help your offer stand out in a competitive market, and help show sellers that you’re a credible buyer who can act fast and secure the financing needed to purchase a new home. In some cases, sellers may require a pre-qualification letter from every prospective buyer who needs financing to purchase the home. Getting pre-qualified can also help you during your home search because it can tell you what you can comfortably afford to spend on a home.

What if I am turned down for my mortgage pre-qualification?

If you don’t qualify for a mortgage pre-qualification, there are some things that you can work on that may increase your chances: work to improve your credit score, fix any errors on your credit report, or create a plan to reduce debt and/or save for a larger down payment. In many cases, your lender can work with you and give you tips on how to improve your chances of getting your home loan pre-qualification.


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All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 


HOMES FOR SALE

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This image has an empty alt attribute; its file name is img_5783.png

BUYING | SELLING | CONTACT ME

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

YOUR HOME VALUE

If you would like to know what your home is worth please fill out the form below.  I am more than qualified to give you an expert opinion on how much your home could be worth in this current market. Home selling guide included.


Find out how much your home is worth:


SELLER FAQ

frequently asked questions:

Is there a best time to sell my house?

Property sells year round. It is mostly a function of supply and demand, as well as other economic factors. The time of year you choose to sell can make a difference in the amount of time it takes and the final selling price. Weather conditions are often a consideration in some states than in other parts of the country. Generally the real estate market picks up in the early spring.

Are there important factors to consider when selling a home?

The two most important factors are price and condition in selling a home. The first step is to price it properly. Then, go through the house to see if there are any cosmetic defects that can be repaired.

A third factor is exposure. It is also important that the home gets the exposure it deserves through open houses, broker open houses, advertising, good signage and listing on the local multiple listing service, as well as the internet.

Continue reading “YOUR HOME VALUE”