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Frequently Asked Questions
We can tell you everything about Mortgage process
We want you to ask questions,
everything you need to know before start loan process with us
How can I find out how much home I qualify for?
You can use our online prequalification process to work with a loan officer and find out approximately how much you can borrow before you start shopping for a house. Once you have that number, you can provide more information and allow your loan officer to run your credit report to verify your assets and income. Your loan officer can also help you obtain a complete written credit approval, subject to an appraisal, before you make an offer on a house.
If you’re short on time, simply input your information into our free Quick Loan Process to find out how much house you can prequalify for.
There is a difference between being preapproved and prequalified. When you’re prequalified, you’ve given your mortgage lender all the basic information they need to help you determine what loan program and what amount you may prequalify for. When you’re preapproved, your mortgage lender will have collected the necessary documents and verified your information to move the loan forward to underwriting and approval. Prequalification can be done easily, quickly, and online. To take the next step and to get preapproved, you may be asked for: Tax returns and W-2 forms from the most recent 2 years Bank/asset statements from the most recent 2 months Paystubs from the last 30 days Valid photo ID But remember, by furnishing any and/or all of this documentation, you are in no way obligated to accept the terms and conditions of the mortgage offered, nor do you have to provide these documents to receive a Loan Estimate (LE).
Is there anything I shouldn’t do before I get prequalified?
* Don’t start shopping for a new home until you’ve been prequalified.
* Don’t pack or ship any important documents, such as tax returns, bank statements, pay stubs, and W-2s.
Buying a house doesn’t have to be hard. Keeping all copies of your paystubs, bank statements, tax returns, and W-2s can make a speedy prequalification even speedier. To further grease the wheels and keep your home loan process running smoothly, take care to make all your bill payments on time. We also suggest keeping a paper trail of any large deposits you make, as well as notifying your loan officer directly if you plan to use a down payment gift from your family.
Prequalifying for your home loan before you begin shopping for a house can save you hours of unneeded stress and heartache. When you know how much house you can afford in advance, you can meet with your realtor, well-informed and ready to make an educated buy. In eyes of a seller, a prequalified homebuyer also appears more motivated
Some cool tips you should know
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How are the interest rate determined?
Interest rates are influenced by the financial markets and can change daily – or multiple times within the same day. The changes are based on many different economic indicators in the financial markets
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