What is a Pre-Qualification?

A Pre-qualification is a determination that you would qualify for a home loan. It will determine the loan type and terms you can get in your mortgage based on income and credit information. The biggest advantage of pre-qualification is that you will have an accurate idea of what size of loan you can get and how much money you need to put down. This can help to target the home search and ensure you are only looking at houses that are truly in your price range. And just as importantly, it assures the seller that you're qualified for the purchase.

Why do you require documents?

The documents are required to verify the information your put on the application. It is a 3rd party document that verifies what you stated as far as your job history, current income and assets. Not every lender requires you to submit documentation at the time of application. Our team prides ourselves on accurate and solid Pre-Qualification. We want to ensure when we say you are Pre-Qualified that you can count on closing your loan once you find your perfect home!

Why do I have to pay for my credit report?

In order for us to review your pre-approval we must take into account your current debts- as that is a major factor in the amount we can approve you. When you pay for the credit report it allows for you to get a copy of it to review for accuracy and the score. We will credit you back the cost of the report at your loan closing.

Do I need a Realtor when shopping for a home?

Buying a home is typically the largest purchase of your life. As such, you should have an advocate on your side. Working with the right professionals in your real estate transaction is critical, and just as important as your lender. Your agent will be your advisor on what home to buy, determining an offer price, communicating with the seller's agent, verifying escrow, and reviewing title and disclosure reports for accuracy and compliance. Realtors are seasoned in the art of home buying as well as their market areas. A professional guide can keep you from making huge mistakes such as offering to much money or choosing the wrong house.

Do I need a home inspection on the home?

Home inspections will tell you what is right or wrong with the house, what to do to correct things, and how much it might cost. While we don't require an inspection, we strongly recommend that you have as much information as possible when making such a big decision.

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