Wondering how to get a mortgage for that beautiful home that just went on the market? It might be easier than you expected, but it does take time so starting before you find the perfect home is the best way to get that home loan and get that perfect home.
First up, I’ll connect you with a great lender we’ve used before and trust to do an excellent job working with you. The lender will help you through each step and I’ll be there as well to help answer questions and assist. Here are some of the items you’ll discuss with the lender.
What you’ll need to qualify for a home loan mortgage:
- Down Payment: Generally between 3.5% to 20% depending on your loan type. Certain programs are available in VA for first-time buyers to lower that down payment even further. Ask me for details!
- Income verification and asset documentation
- Stable Income
- Good Credit History: if you have less than perfect credit, that’s okay too because we have a plan to fix that and get you back on track. Just ask!
Here’s how the mortgage process will go:
- Chat with me & I’ll connect you with a great lender
- Check your current credit score & history: Even without perfect credit you can likely qualify for a loan
- Gather documentation: find your latest paystubs, W-2 forms, tax returns, bank statements, etc.
- Pre-Approval: Your lender will run your numbers & determine if you’re ready for a loan & what amount fits your finances
- Mortgage Approval: Once you’re pre-approved & we get a contract on your dream home the lender will help you complete your loan process
Bottom Line: Don’t be intimidated. There will be a lot of papers and documentation to gather, but your lender will need that to make sure you’re getting a great loan and that you’re getting it on time. If you aren’t able to quickly provide documents and respond to questions then the process will take longer and you could miss out on that perfect home you just saw!
Got questions? I’ve got answers! Let’s talk.
The Mortgage Process – Infographic