Get Prequalified Now!

Steps To Buying A House

1. We get your prequalified to determine your budget
2. We help you find a home that fits your budget and needs.
3. We connect you with one of our trusted realtors to help make an offer on the home of your choice.
4. You close on the home of your dreams and move in!

Get Prequalified For A Mortgage

What Is Mortgage Pre-Qualification?

A mortgage pre-qualification is an initial assessment by a lender to determine how much you might be eligible to borrow for a home loan. Unlike a full pre-approval, pre-qualification doesn’t involve a deep dive into your finances or a hard credit check.

Why Get Pre-Qualified?

• Understanding Your Buying Power: Pre-qualification helps you gauge how much you can afford and what price range of homes you should consider.
• Confidence in House Hunting: Having a pre-qualification letter gives you confidence while house hunting, as sellers often prefer buyers who are pre-qualified.
• Streamlining the Process: Once you find a home, having a pre-qualification letter expedites the loan approval process.

Steps to Get Pre-Qualified

• Contact a Lender: Reach out to a mortgage lender or use online tools to start the pre-qualification process. Click here to connect with a lender in your area now!
• Provide Financial Information:
  • Income: Share details about your income (salary, bonuses, commissions, etc.).
  • Debt: Disclose any existing debts (credit cards, student loans, car loans, etc.).
  • Assets: Mention your financial assets (savings, checking, retirement accounts).
  • Desired Loan Amount: Specify how much you plan to borrow.
  • Down Payment: Indicate your planned down payment amount.
• Lender Assessment: The lender will evaluate your information and estimate the loan amount you qualify for.
• Pre-Qualification Letter: If you meet the criteria, you’ll receive a pre-qualification letter with an estimated loan amount and potential interest rates.

Is Pre-Qualification the Same as Pre-Approval?

• No. Pre-qualification is less detailed than pre-approval. Pre-approals involve a thorough review of your finances, credit check, and documentation. A pre-qualification is a good starting point to understand your buying power, but it’s not a guarantee of loan approval.

Steps After Pre-Qualification

• Find a Home: Start your house hunt with confidence.
• Full Pre-Approval: When you’re ready to make an offer on a specific property, proceed with a full pre-approval process.
• Provide Additional Documentation: For pre-approval, you’ll need to submit more detailed financial documents.

Finding The Right Home To Buy

Finding the perfect home can be both exciting and overwhelming. Here are some tips to help you discover the right house for you:

Have a Long Chat with Your Agent

• Your real estate agent is your ally in this journey. Share your preferences, dealbreakers, and must-haves.
• Be open about your goals: Are you downsizing, moving closer to work, or accommodating a growing family?
• A forward-thinking agent will guide you, even pointing out crucial elements you might not have considered.

Don’t Fret About Timing:

• Patience is key. While waiting for the ideal home can be tough, rushing your house hunt isn’t advisable.
• Some buyers spend years searching, while others find their dream home right away.
• Prioritize finding the right fit over arbitrary timelines. “Your” house will show up when the timing is right.

Understand Your Budget and Financing Options:

• Review your credit and explore financing choices.
• Get pre-qualified or pre-approved for a mortgage to understand your buying power.

Explore Different Neighborhoods:

• Research neighborhoods that align with your lifestyle, commute, and preferences.
• Consider factors like schools, amenities, safety, and proximity to work.

Make a Wish List:

• Identify your non-negotiables (e.g., number of bedrooms, yard size, layout).
• Prioritize features that matter most to you.

Attend Open Houses and Tours:

• Visit homes in person to get a feel for the space, layout, and neighborhood.
• Take notes and compare properties.

Think About Resale Value:

• Even if it’s your forever home, consider resale potential.
• Look for features that appeal to a broad range of buyers.

Be Realistic:

• Balance your wish list with practicality.
• Understand that no house will be perfect, but focus on what matters most to you.

Trust Your Instincts:

• When you step into a home, pay attention to how it makes you feel.
• Trust your gut—it’s often right!

Work with a Good Real Estate Agent:

• A knowledgeable agent will guide you through the process, from house hunting to closing.
• Get referrals and interview agents to find the right fit for you.

Loan Options To Consider

Fixed Rate Mortgage

Opting for a fixed mortgage rate loan provides stability and predictability in your monthly payments, shielding you from fluctuations in interest rates. This can be particularly advantageous when interest rates are low, as you lock in a favorable rate for the duration of the loan, ensuring your payments remain constant. It offers peace of mind and helps with long-term financial planning, especially if you prefer consistency and want to avoid the uncertainty associated with variable interest rates.

Adjustable Rate Mortgage (ARM)

An adjustable-rate mortgage (ARM) can be appealing if you anticipate interest rates to decrease or if you plan to sell or refinance the property before the initial fixed-rate period ends. Initially, ARMs often offer lower interest rates and monthly payments compared to fixed-rate loans, which can be advantageous if you’re on a tight budget or if you’re planning to move within a few years. However, it’s crucial to carefully consider the potential for future interest rate adjustments and ensure you can afford potential payment increases down the line.

FHA Loans

FHA loans are popular for several reasons. They often have lower down payment requirements, making homeownership more accessible to buyers who may not have a large amount of savings. Additionally, FHA loans typically have more flexible qualification criteria, making them an attractive option for borrowers with less-than-perfect credit or a limited credit history. Furthermore, FHA loans may offer competitive interest rates, providing cost-effective financing for homebuyers. However, it’s essential to weigh the benefits against factors such as mortgage insurance premiums and upfront fees associated with FHA loans.

VA Loans

VA mortgage loans offer numerous benefits for eligible veterans, service members, and their families. Some advantages include:

1. No Down Payment: VA loans often allow borrowers to purchase a home without making a down payment, making homeownership more accessible.
2. Lower Interest Rates: VA loans typically have competitive interest rates compared to conventional loans, potentially saving borrowers money over the life of the loan.
3. No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans do not require private mortgage insurance, which can result in lower monthly payments.
4. Flexible Qualification Criteria: VA loans have more lenient credit and income requirements compared to conventional loans, making them accessible to a broader range of borrowers.
5. Assistance in Case of Financial Hardship: The VA offers assistance programs to help borrowers who encounter financial difficulties, such as temporary financial counseling and loan forbearance options.

Overall, VA loans are a valuable benefit for those who have served in the military, offering favorable terms and making homeownership more achievable.