Home Buying in 32216>Question Details

Char, Home Buyer in 32216

How do I do a pre-qualifying loan?

Asked by Char, 32216 Sun Jan 9, 2011

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17
Hi Char, gather together your basic financial information, pay stubs, checkin acct, saving acct, charge accts loans car & mortgage, etc, and you can eithercall or go online to get prequalifed--remember this is a "guestimate"-- if you have a favorite bank or ask a couuple of friends for referrals, or if you are working with a realtor they have some they work with--when I make a a recommendation it is because I have had successful transactions with them and like the way they worked with my clients. If they botch it for my client, I figure out why and that will affect whether I recommend them again. By all means, work with a realtor--it costs YOU nothing--seller pays the commission. And the assistance you need is very valuable and should prevent you from making serious and costly errors.

Best of luck to you,

Myke Triebold, GRI, LMC
850-305-6256
MykeSaysSold@aol.com
http://www.DestinHomeRealtor.com
Web Reference: http://www.MykeTriebold.com
1 vote Thank Flag Link Sun Jan 9, 2011
You need to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any programs that you may quailify for. Be careful giving out any financials online or by email to just anyone.

Please see my blog with tips and advice on getting a mortgage
0 votes Thank Flag Link Tue Jan 11, 2011
Hello Char,

I am a local lender in Jacksonville and I am able to pre-qualify you. I am with Equity Loans and I would love to answer any questions that you may have. My e-mail address is jpeters@equityloansllc.com and my phone number is 904-296-1369. We are able to run your approval with no cost to you and let you know exactly what kind of rate and paymnet we would be able to get you qualified for. You can also go to our web site and fill out an application if you would like. Our web site is http://www.equityjax.com. I hope you are having a great day and I look forward to answering any questions that you may have.

Thanks,

Jeromy Peters
0 votes Thank Flag Link Tue Jan 11, 2011
Char-

You, don't actually do it. A banker, lender or mortgage broker does it. Its a rather simple process. You provide your income, expenses, including just about everything in terms of your finances - the person taking the info will most likely check your credit and ascertain
0 votes Thank Flag Link Sun Jan 9, 2011
Hi Char,

Most lenders now will do a full pre-approval including what's called "Desktop Underwriting" this means they have taken the extra steps to verify your eligibility for the loan they approve. You will have better clout when you offer on homes with this.

You should start with a local lender....if you belong to a credit union, that is a great place to start. You can also speak to your bank, but I find that mortgage brokers often have more options.

I would suggest finding a Realtor® that you like and trust...and see who they might recommend, they will have experience with these reps and a working relationship. If you trust the agent, you will most likely like their recommended lender reps, ask for a couple of references.

Karen
0 votes Thank Flag Link Sun Jan 9, 2011
You need to contact a mortgage broker who will instruct you to complete loan application review your financial records, employment, debt/income ratio and etc.

DIRECT LINK:
http://www.lynn911.com/Web/AR287090/CustomContent/index/5046766

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sun Jan 9, 2011
Char-

You, don't actually do it. A banker, lender or mortgage broker does it. Its a rather simple process. You provide your income, expenses, including just about everything in terms of your finances - the person taking the info will most likely check your credit and ascertain
0 votes Thank Flag Link Sun Jan 9, 2011
Speak with a local lender or one that your realtor can recommend. Even when you get pre-qualified, I always advise my clients to get a second opinion to compare interest rates since they are constantly fluctuating. It will re-assure your confidence in the lender you decide to go with. You don’t need luck, you’re going to do great!
0 votes Thank Flag Link Sun Jan 9, 2011
Hi Char;

There is many things you need to know about getting prequalified in order for you to get the best interest rate. Which to me, is the single most important part of home buying because this is the "fluff money" that you end up giving to the bank. To just get prequalified, is easy and can de done at almost any bank or internet site however, you are taking many risks and it could cost you thosands just picking any bank. To be honest, even if you were given advice from friends and family of which bank to go to, it could be that they just got the best customer service so they think they're good but you want to look or a bank that not only gives amazing customer service but also has the best rates. (Its not just about rates either....they're are many things you need to be looking at to get the best deal)
It would probably be better if you just called me or emailed so I can break it down for you. This could save you over $10,000.00 so its important. I would of course love to earn your business but you don't have to work with me as a realtor just to get this information. I am very passionate about buyers getting the best deal because I see so many "bad" deals where I could have saved them thousands. My number is (904)566-0062 or homebuyernetwork@gmail.com. Name is Danielle Rivers. Feel free to look me up however, my tech guy is working on my website this weekend but I'm all over google. Good Luck home buying is an excited time.

Danielle
"Your Tell It Like It Is Realtor"
0 votes Thank Flag Link Sun Jan 9, 2011
Char - If you are a first tme homebuyer there are numerous programs available thru the local goverments that have down payment assistance programs so you do not need the 3.5% $$ to put down, just $500. There are only a few lenders and mortgage companies that have access to this. Pre-qual is just basically getting credit pulled and supplying bank or lender of your income and assets. Once you supply paperwork it will then go into a pre-approval status. I assist all my customers thru every step so i can explain everything, since it came be overwhelming process. Contact me at 904-813-2796 or wendy@dennis-realty.com anytime.
0 votes Thank Flag Link Sun Jan 9, 2011
We advise talking with a local mortgage loan officer who will assist you in choosing what product is best for you. Working with a team of professionals who each specialize in a specific discipline helps you to keep your options open and to keep the focus on YOUR NEEDS each step of the way toward purchasing the right home for you. http://www.MyJaxHomeTeam.com has more information which you may find helpful.

If you would like to discuss your options with us and/or have us introduce you to local lenders we know to be consumer centered, give us a call or shoot us an email. We are happy to help.

Tim and Susan Fennell
0 votes Thank Flag Link Sun Jan 9, 2011
Hi Char,

Finding the right home loan is as important as finding the right home. I recommend that you speak with 3 different lenders to see what they have to offer as far a service and costs. You want to feel right working with your mortgage lender. I can recommend three lenders that you can speak with should you need assistance here. Then you will need a real estate agent that will work with you to find your home. There is no cost working with a real estate agent. Contact me at 571-1358 or email yourrealtor@att.net to get started.

All the best
Charlie
Charlie Chorman - REALTOR
Coldwell Banker Vanguard Realty
Web Reference: http://jaxhomesinfo.com
0 votes Thank Flag Link Sun Jan 9, 2011
Char,
I always run my clients through underwritting for a 'credit only approval' upfront. This does not cost anything and will expedite closing and eliminate last minute supprises once you have a home under contract..
Typically i will need last 2 years W2, last 30days pay stubs and last 60days bank statements. Your loan application can be completely underwritten and approved before you sign contracts , pay deposits and inspections fees. This can be completed in about a week.
Keven
0 votes Thank Flag Link Sun Jan 9, 2011
Char,
Find a good Mortgage Broker, your bank or Credit Union. They will be able to help you. Ask your Real Estate Agent. They will be able to give you names of people they are familiar with.

Good Luck!

Genny
0 votes Thank Flag Link Sun Jan 9, 2011
You should talk to a lender(s) to see what you can get approved for, you will then use that pre-approval in your sales contract for the property you are looking to buy. You should talk to a Realtor, friends, or colleagues if you are looking for a lender to give you names of people they have used and thought did a good job for them.
0 votes Thank Flag Link Sun Jan 9, 2011
https://www.homeloans.com/loans/travis-gibbon1/index.page
Char, please contact Travis Gibbon (his link above); we can help with you everything at NO COST or obligation. Deb Smith
0 votes Thank Flag Link Sun Jan 9, 2011
Hi Char,
You need to find a good local lender in the area you are looking in. Do you have accounts with a bank in the area? They can also help you. If you are working with a Realtor (which I highly recommend) they can refer you to a reputable lender they are familiar with.

Best of luck,
Nancy
0 votes Thank Flag Link Sun Jan 9, 2011
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