Don’t Get Prequalified for a Loan Amount
Posted in: First Time Homebuyer, Purchase, Truth in Lending
When you’re about to get serious about shopping for a new home, the common logic is to contact a mortgage lender, and provide some information about your income and credit in the hopes of learning what purchase price you can be qualified for. The problem with this model is that you aren’t qualifying for a [...]
Mortgage Application Basics
A mortgage loan application is a “simple” 4 page document that collects information about employment and income, assets, debts, credit, and a host of personal information as well. All of this is designed to put all of the key elements required to get a mortgage loan approval in one document. But before you sit down [...]
Understanding Source of Funds
Posted in: First Time Homebuyer, Loan Process, Purchase
Banks require that all funds used for a purchase transaction be both sourced and seasoned. Knowing what’s allowed and what’s not early on can prevent surprises at the closing table.
Shop for a Realtor before you shop for a home
Finding the right real estate agent for your next home purchase is a crucial part of the process. Here are a few questions to ask.
Communication is Key to a Stress Free Home Purchase
Posted in: First Time Homebuyer, Loan Process, Purchase, Why Use a Mortgage Broker
Buying a home is a huge investment of money, time, emotion and energy. Great communication is the single most important key to a successful, stress-free home purchase. Make sure that you’re getting it.