One of the biggest misconceptions I hear from people is that it’s hard to get a loan. Actually, I can tell you it’s not hard at all. In fact, it’s easy to get a mortgage loan if you do the following:
- Pay your bills on time
- Have a steady income
The next step is determining the mortgage amount for which you qualify.
The prequalification process is pretty simple for the majority of home buyers. I can usually do a prequalification over the phone and there is no cost involved. Here’s what you need to provide:
- Social Security number
- Down payment amount
This information will allow me to pull your credit report. Then based on your credit score, income and how much money you have available for a down payment, we can determine how much you can borrow for your new home.
If you’re wondering how much money you should put toward your down payment, you can read my blog, Down Payments: How much do I need to save?
Getting prequalified should be your first step in the home-buying process. It’s important to prequalify before you start looking for houses, so you know how much you can spend on a home. It’s also good to get prequalified in the early stages in case you need to work on improving your credit score.
If you’re interested in getting started, you can contact me directly at 919-846-5549 or [email protected]. I’d be happy to get you on your first step to buying a home.