Home loans?

2 Responses to “Home loans?”

1. 

   Nyte M 29. Jul, 2010 at 8:54 am

   Talk with a broker/banker first. Do not seek the help of a Realtor until you know what you can afford. The broker will examine you last two years combined income via w-2 and current pay stubs (If S/E, you’ll need tax returns), assets (401k, IRA’s, Checking account etc.) to determine your ability to repay the loan, plus asset reserves. Have your credit reviewed prior to or the initial meeting with your loan team. Typically, a score of 575 minimum is required for maximum financing, should you not qualify for conventional minimum (100%) your broker may still look at govt. alternatives like FHA or VA if eligible. There are also many community sponsored programs that allow for down payment assistance, so if you can’t qualify for 100% you may still find a loan using one of these community programs. I would not waste your time getting pre-qualed, go with an actual pre-approval. as it holds more weight.. Upon pre-approval you should enlist the help of a reputable Realtor. He/she will work with you and your broker to find a home that meets you want, and is within your comfort level.

   if you have any negative credit issues, you’ll also want to start working on these issues early. Good Luck

2. 

   Mike N 29. Jul, 2010 at 8:54 am

   Call A local Mortgage Broker ,Who will shop around to get you the Best Terms ,Rates and Conditions. You won’t be sorry

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