Of course the first things you need to do when looking to purchase a home is get pre-qualified by a lender. You can work with your bank or work with a mortgage broker. It’s up to you.
Some say that working with a mortgage broker will get you a better rate since they shop around for you but please make sure to do your own homework.
PLEASE CONTACT GOLDMARK REALTY today and we can steer you in the right direction on getting pre-qualified.
THIS PAYMENT IS PRINCIPAL & INTEREST ONLY.
This does not include property taxes, property insurance or possible mortgage insurance (PMI). Also, the default interest rate of 5% may not be the interest rate you will receive. The interest rate you receive will be based on many factors such as credit scores, debt & income. Please contact us for a more accurate evaluation.
BASIC STEPS to Getting Pre-Qualified
Get the Following Documents & Information Ready to Go:
- Bank Statements last 2 months
- Recent Pay Stubs
- 2 Years Tax Returns
- Credit Card balances & min payments (a recent statement will have this information)
- Auto Loan balance and payment (a recent statement will have this information)
- A list of any other debts/monthly payments such as school loans, child support, etc..
- Figure out how much down payment you can make
Once you have all these documents then a lender can run the numbers and tell you what price home you can buy
PLEASE REMEMBER!
- DON’T buy any new items that will create a new monthly payment. This can severely hurt the amount of home you can purchase.
- DON’T change jobs until you have moved into your new home. Lenders like it when you have been at your current job for a while.
