As with anything in life, you will have advantages and disadvantages to consider in regards to home ownership. Your monthly mortgage payments not going into the pockets of a landlord each month, is one of the best advantages to investing in your future, and contributing to your own long term personal investment goals.
Knowing how excited many homebuyers can be, it can seem frustrating to add in an extra step before house hunting. However, there are several advantages to being pre-qualified before you shop for a house. Credit challenges will be addressed early and can be fixed before you are ready to buy. You will be able to house hunt with confidence, knowing what the current interest rates are at, and how they affect your payments, what type of loan you qualify for before you make an offer, and what you will need for a down payment or closing costs, prior to making an offer, and it getting accepted. Home sellers will see more strength in an offer that comes from a pre-qualified buyer.
The items needed for a PrimeLending loan officer to determine your credit worthiness and income to debt ratios, for a full, COMPLIMENTARY pre-qualification are listed below:
- Most recent 2 years tax returns and W2's for each borrower on the loan
- Most recent 30 days of pay check stubs from the employer
- Most recent bank statements with all pages included from the bank
- Most recent investment account statements with all pages included
- Photo ID and Social Security number or card
- History of address and landlord information for most recent 2 years
- History of employment, including any dates of school or unemployment status for most recent 2 years
When you have the above information gathered, and you are ready to make your homeownership a reality, it is a good time to talk to your PrimeLending Loan Officer about becoming pre-qualified. They have many programs to qualify you for, including $0 Down payment options, First Time Home Buyer Loans, USDA Rural Development, VA, FHA, MHFA, and Conventional Financing. We have loans to fit almost every persons needs.
For more information visit us at:
PrimeLending; A PlainsCapital Company
70 E BroadwayLittle Falls, MN 56345
Laurie Whitlow 320-630-4944
lwhitlow@primelending.com
Patience Svor 320-260-3228
psvor@primelending.com
No comments:
Post a Comment