Prequalification

Pre-approval

• Pre-qualifying for a mortgage generally helps you determine how much house you can afford.

• Most lenders require that your monthly mortgage payment, including principal, interest, taxes and insurance, range between 25 and 28 percent of your gross monthly income.

• Pre-approval from your lender means that you have provided them with the necessary paperwork, and they have approved your actual loan amount.

• Having pre-approval for a home loan will put you in a much better negotiating position, because the seller knows that you are able to obtain your loan to purchase their home.

Down Payment

Special Programs

• Most lenders require a 5 to 20 percent down payment; 25 percent or higher down payment may qualify you for a lower percentage rate.

• I can help you locate a lender who will assist you in finding a financing package that best meets your needs.

• The exciting news is that there are many new loan programs that allow you to finance your new home with little or no money down.

• Contact me today to order a list of mortgage programs and  specialty lenders, "Creative Loan Packages".