Whether you are buying a house, cashing out or refinancing your mortgage…

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What You Need to Know About the Mortgage Process

Steps To Take:

Find out your current credit history & score.
Even if you don’t have perfect credit, you may already qualify for a loan.

Start gathering all of your documentation:
Income Verification (W-2 forms, tax returns, employment), Credit History & Assets (such as bank statement to verify your saving)

Consult with your lender to review your income, expenses & financial goals to determine the type and amount of mortgage you qualify for.

Talk to your lender about applying for a mortgage & getting a pre-approval letter. This letter provides an estimate of what you might be able to borrow (provided your financial status does not change) & demonstrates to home sellers that you are a serious buyer.

What You’ll Need to Qualify in Today’s Market

Down Payment:
Generally between 5-20% of the purchase price (Many buyers are putting down 10% or less – with some putting down a little as 3%)

Income Verification, Credit History & Asset Documentation

Stable Income

Decent Credit History

Begin your home loan process today!