Loan Prequalification

You are likely aware that banks, mortgage lenders and loan officers have tightened the financing strings for borrowers.  This is nothing to be alarmed about. 

Financing is available to borrowers with a credit score as low as 580!

#1.  Most home buyers don't realize that a loan is tied to a property, closely.  For example, if you would like to buy a manufactured home, you will not be able to use Rural Development financing.  Rural Development does not finance manufactured homes.  You would need to choose FHA or a Conventional Loan, instead.

#2.  Most home buyers don't take the time to get approved for a mortgage loan before they shop for a home.  This is a waste of your time and ours, for that matter.  As Agents, we need to know what type of loan you applied for, FHA, Rural Development, Conventional, MSHDA, VA, Etc...  This tells us what type of home you will be able to purchase and in most cases whether you will need specific types of inspections, i.e. well & septic.  The Loan Officer can tell us whether you will need assistance from the seller for your closing costs.  (Today, most buyers need the seller to contribute to the buyers loan closing costs).  And lastly, the Loan Officer can tell us how much you will be allowed to borrow based upon your income which in turn tells us how much your new home can cost.  (Very Important)  Shopping for a home that you do not qualify for is just a waste of time and energy.  Shopping for a home that will not meet your financing requirements is a waste of time and energy.

#3.  Play it smart!  Fill out the form below.  We will pass your information along to a trusted lending institution to speed your way to home ownership.