To determine if a client is eligible for a loan or not.
To determine price range
To determine down payment
To determine if there are any credit issues
To outline expected payment
To outline expected closing costs
Over 65% of purchase transactions that are delayed or fall out, were for reasons that could have been taken care of during the Pre-Approval process. Please take a minute to read this so can learn what to look for in a proper Pre-Approval:http://www.trulia.com/blog/elliott_r_oliva/2011/12/pre-apppr
For more questions or details please contact me at your convenience.
Elliott R. Oliva
Mortgage Banker | nmls#353884
Stearns Lending, Inc.
"Se Habla Espanol"
The first step is to contact your lender or a lender recommended to you. I personally recommend Tim Murphy at C&F Mortgage who can walk you through the steps at Toll Free Phone: (866) 369-7705. I was a mortgage loan office before becoming a realtor so the first step is to get prequalifed for a loan. This step only requires about 5 minutes and they will need the following information: How much do you make? (This is before taxes, salary, hourly, etc), How long have you been at your current job? (minimum of 2 years required), and after running your credit report they will then determine your credit score. Your credit score will determine if you qualify for a loan. The best type of loan for a first time buyer is a rural housing loan which is offered to buyers in King George and Westmoreland county. SO, the second step once you are pre-qualified is to find a home. The third step is to actually apply for a loan for the amount you are buying the home for and shop this part around if you need to so that you make sure you are getting the best interest rate. I wish you the best of luck and please feel free to contact me at 540-273-0152 with mortgage or real estate questions as I am knowledgable in both aspects.
Kristy Satterfield - RealtorÂ®
Century 21 Battlefield
15521 Real Estate Avenue
King George, VA 22485
Top Producing Agent 2011 - Ruby Award
Accredited Buyer Representative, Short Sale Foreclosure Representative
Quality Service Award 2010 and 2011
Rookie of the Year 2010
(540) 273-0152- Direct
(540) 663-0385 - Fax
"Just THINK Satterfield at Battlefield"
Licensed in the Commonwealth of Virginia
It is a relatively easy process to get a loan. You just need to fill out a loan application and the bank will want to see some pay stubs and tax returns for the last 2 years. Every bank operates a little different but they will tell you what they need. I am a realtor that lives and works in king George so please feel free to give me a call at 540-220-1875 and I will be glad to help you out.