They say the best way to eat an elephant is one bite at a time. In the same vein, the home buying process can seem just as daunting. But the key is to keep moving forward, one step at a time and know that you will not be alone.
In an ideal world, borrowers would get fully preapproved first, armed with a purchase price and loan amount ceiling, going out confident and reay to make an offer knowing the financing has already been put in place. But life doesn't always work in the ideal. Maybe you've just seen a home you love and are now wondering if you can afford it. Or maybe you are wondering if the net result of owning vs. rending might be in your favor. If you are contemplating the numbers, try my mortgage calculator, then let's talk.
You can even do this thru my moblie application, just download and you can easily calculate your mortgage payments on the road while viewing properties.
A prequalification is typically an informal conversation, working with ballpark estimates of income, debt, living & work history. From this 10 minute interview, we can typically determine if there is likely a loan product for your scenario.
If so, then the next steps are to get fully preapproved, which is a more formal review of the income/debt and asset documentation supporting your loan application and a review of your most recent credit report. From this, you will then have a maxmimum purchase price and loan amount so that you can confidently go out shopping knowing your limits. And, you'll be in a position to immediately provide a potential Seller the evidence they will demand proving your financing is ready to go. A must have in this competitive market.
Send us an email to request a free consultation. The consultation usually takes between 15 and 30 minutesand I'll will answer your questions, talk to you about the mortgage options that make sense given your finances, and get you prequalified for a mortgage or preapproved for a home purchase if you’re ready for those steps.
Call us today: 1-415-345-4375
Email me to request a free consultation
The first step; Complete the online mortgage application form.
If you've got the buring desire to go out looking for properties and want to be ready if you see something you like, then you should probably get going quickly on a preapproval. The market moves fast and today's Sellers are not going to wait for you to catch-up.