You won’t need to google anything else after reading this!
How do I know if it’s time to buy instead of rent?
If you know where you want to live, have a steady and secure income, and are ready for the responsibilities of homeownership, then it’s a great time to invest in property.
How much do I need to save up for a down payment?
A conventional loan down payment is usually 20% of the sales price, but other types of financing require as little as 3.5% to 15%. Set up a time to chat with me here and I can tell you what types of loans you qualify for.
How do I know if I qualify for a loan and how much I can afford?
The first step is to get pre-approval for a loan. I will ask you some basic questions about your income and debts and can tell you what amount you can be approved for, and how much your mortgage payments will be. You can apply here if you’re ready to move forward on your dream home!
What does the lender need from me to give me a loan?
Usually, you are asked to provide your last two tax returns to show proof of income. You should also provide recent bank and credit card statements and proof of your current pay rate. You will also be asked for your social security number so they can run a credit check.
What’s the difference between pre-approved and pre-qualified?
While often used interchangeably, these terms don’t mean the same thing. Pre-qualification is an estimate of what you may be approved for based only on the verbal information you provide. Pre-approval means the lender has verified your income and debt information and run a credit check.
How do I know which mortgage option is right for me?
Your mortgage lender is the best person to advise you on this question aka “ME”! I’d love to help and go over the different options that are available! Their products and qualifications change from time to time, so they would know best what products are available to meet your needs.
For the rest of the FAQs, click here to download for free, email me (here) to get your copy…! There is so much more than what I can put in a blog post so download the Free Home Buyers Guide! It is everything you need while going through the home buying process. I would even go so far as to say you should print it out so you can carry it with you and write in the forms as you meet certain partners. There are great questions to ask to make sure you pick the best people to work with and know everything you need to so you are informed!