After our Initial Consultation, the first thing you want to do is to get pre-qualified with the Mortgage Company. Your lender will inform you what you can qualify for, but you need to be comfortable with the payment and the amount of money that you need. This will also guide us, as agents, in what price range to show you properties. You never want to fall in love with something that you can’t have or afford.
Your Lender is your Consultant also. Your Lender will give you many options that fit your specific goals in buying and financing a home. One of the most important things in qualifying for buying a home is your credit score. You will also need money for down payment and for closing costs. Again, you don’t need to know everything about financing, but you do need a wise Lender Consultant to help guide you as well as your Real Estate Consultant.
Follow these steps in obtaining financing:
- Choose a Loan Officer Consultant. We will refer you to our Lender Consultants because we trust what they say and they do what they say.
- Make loan application and get pre-qualified.
- Determine what kind of payment you want and with the lenders guidance, select the type of loan, whether it be FHA, VA, or Conventional lending.
- After the Lender has received the final accepted purchase offer contract, be sure you work with your Lender to provide all the paperwork they ask you to provide.
- The appraisal, the survey, the title commitment will be completed and shared with you.
- We obtain financing at closing after final approval from the underwriter, and the property belongs to you when we are closed and funded.
More Information on Financing
What is a Mortgage
Ten Commandments of Applying for a Mortgage
Cash Needed Before Closing
Qualifying for a Mortgage
Loan App Checklist
Predicting Your Monthly Payment