For your initial pre-qualification we’ll ask questions about your income, assets, credit history and employment. In addition, you will be required to pay a minimal fee to cover the cost of your credit report so that we can verify your credit history. Once you start the application process we’ll need to verify the information you gave us with specific documentation, such as your last two years of income tax returns, bank statements, pay stubs and documents pertaining to other personally owned real estate. You’ll receive notification in writing of required documentation needed to obtain a final approval. In some cases, our Underwriting Department may request additional information.

No!  Getting started before you find a home may be the best thing you could do! If you get started before you have a property to purchase, we can issue a pre-qualification subject to you finding the perfect home, which you can use to assure real estate brokers and sellers that you are a qualified buyer. Getting pre-qualified for a mortgage will even give more weight to any purchase offer you make. When you find the perfect home, you’ll need to call your Loan Originator and provide your signed purchase agreement to complete your application. You’ll then have an opportunity to lock in our great rates and fees and we’ll complete the processing of your loan.

There are many advantages to homeownership: A sound investment – When you carefully choose a home you can afford, the payoff can be great. As a homeowner, instead of paying rent to a landlord, each month when you make your mortgage payment, you are building equity in a place of your own. The more mortgage payments you make, the more equity you’ll have. And unlike most things you buy, a home can actually appreciate in value as time passes, building more equity.

• Tax advantages – The mortgage interest and real estate taxes you pay are tax deductible which can reduce your tax bill.
• Real estate is marketable.
• You can make your own decisions about design and décor.
• You can invest in upgrades that will not only bring you pleasure but can also add to the value of the property over time.
• You have control over the piece of property. You are not answering to a landlord.

You wouldn’t go shopping for a new car without knowing how much you can afford. Why would buying a home be any different? Pre-Qualification Today = Less Stress House Shopping Tomorrow Let’s face it. One of the most stressful things about buying a home is adjusting to your new mortgage payment. Knowing your family’s financial boundaries before shopping for your new home can make the process go much more smoothly. Your pre-qualification is an essential tool when house shopping, because it…

• Determines what homes are in your price range
• Assures real estate brokers and sellers that you are a qualified buyer
• Can be used to your advantage in future negotiations