A loan officer who does not ask for and properly reviews all of the above documentation is doing no service to you and may not be very experienced. Experienced loan officers know that many issues come to light only once the actual documentation has been reviewed.
A Pre-Qualification is valid for 90-120 days from the date that the credit report has been pulled. At the time of closing, most documents (i.e. credit report, income/asset documentation, appraisal, etc.). Should anything be older than 90 days, an update will be required. For credit, this is simply the loan officer obtaining a new credit report.
As one of the largest direct lenders in the country, Prospect Mortgage offers one of the largest selections of loan programs available. In addition to the standard conventional, FHA, VA, USDA, and Jumbo, we also offer a wide range on Renovation loan programs. Our Renovation programs include FHA 203(k) (Streamline & Consultant), HomePath Renovation, and HomeStyle Renovation. In addition, we also have an FHA 580-639 FICO program for borrower with previous credit issues.
The waiting period after a foreclosure can range from 2-7 years depending on the loan program.
Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com to get started.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.
Fred Yancy, Broker
Harry Norman Realtors
First, I would get in touch with a lender soon just to see what your credit looks like now. If there are things that you need to do to improve it you can get a head start. I can put you in touch with a wonderful lender who will help you.
Second, I am an active adult community specialist and can help you with your purchase. I work with a lot of retired individuals and can help point you in the right direction.
I would be happy to answer any other questions you might have. Send me an email to firstname.lastname@example.org or give me a call at 404-932-5540!
Enjoy your Sunday!
Based on your credit and retirement income you should be able to qualify. You may also have the option of a Reverse mortgage to purchase your new depending on your age and amount available for downpayment. Feel free to contact me if you would like to discuss this further. In my opinion there is nothing wrong with building a relationship with your agent now and then you will be more comfortable at you time you decided to make your move.
Solid Source Realty Inc