Financing in Redlands>Question Details

Tina, Home Buyer in Redlands, CA

Can I qualify to buy a home?

Asked by Tina, Redlands, CA Sun Oct 11, 2009

Help the community by answering this question:



Your best bet is to meet with a Local Mortgage Banker to get prequalified. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Thu Sep 27, 2012
We often recommend that people go to the bank or credit union where their checking/savings accounts are and ask to speak with their mortgage lending professional. When the bank qualifies you, they will generally want info about your income and credit.

Good luck and happy house hunting!
0 votes Thank Flag Link Wed Sep 19, 2012

There is a lot of information that would be needed to determine if you qualify to buy a home. For example, a lender would need to know your employment history, credit history, income, etc. However when considering a mortgage lender, there is much more to think about than just the current mortgage rate. First and foremost, finding a reputable lender that you can trust should be your highest priority. In all probability, a mortgage loan is the biggest investment you’ll ever undertake. You shouldn’t just trust anyone with that responsibility.

Find a mortgage lender who you are comfortable with, then proceed with purchasing your home. If you haven't already found a home, you should consider getting pre-approved first. A pre-approval includes the verification of employment, credit history, down payment, etc. Once this information is validated, the mortgage application is submitted to a credit officer (underwriter) to make a final decision. Once approved by an underwriter, a pre-approval certificate (commitment to lend) is issued. This commitment to lend allows for borrowers to close very quickly once a home is found. When a borrower has a commitment from a lender, it can drastically improve the negotiation of a sales price with a seller since it is as close as a borrower can get to actually having the cash in hand to pay for a home.

I hope this information helps. Best of luck!

Total Mortgage Services
0 votes Thank Flag Link Mon Oct 12, 2009
Hi Tina,

It would be my pleasure to help you pre-qualified or pre-approved.

Please visit the link below.

0 votes Thank Flag Link Sun Oct 11, 2009
You will have to speak to a mortgage lender and provide them with some information about your finances. You can do this without any costs or obligation.
0 votes Thank Flag Link Sun Oct 11, 2009
Anyone can qualify to buy a home as long as you have stable, verifiable income, likely to continue. FHA loans are granted from a common sense approach to lending rather than a credit score driven approach. So if you have made your bills on time for the last 12 months and have at least 3.5% down payment of the purchase price, then there is a good chance you can qualify for a FHA home loan.
0 votes Thank Flag Link Sun Oct 11, 2009
Not sure. Call a local broker and have them pre-qualify you. Call a Realtor and ask who they recommend.
0 votes Thank Flag Link Sun Oct 11, 2009
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