Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
HERE ARE THE ESSENTIALS NEEDED TO START
Steady employment history, at least two years with the same employer.
Consistent or increasing income over the past two years.
Credit report should be in good standing with less than two thirty day late payments in the past two years.
Any bankruptcy on record must be at least two years old with good credit for the two consecutive years.
Any foreclosure must be at least three years old with good credit for the past three years.
Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.
If you can answer YES to these statements you should have no problem qualifying for an FHA home mortgage loan.
While pre-qualifying for a loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford in terms of a monthly mortgage payment. Pre-qualifying for a loan simply means that you have taken an inventory of your income and assets and submitted them to your potential lender.
The first step for you is to get the pre-approval process started with an experienced lender. If you have your basic financial documents available, I offer same day service on this. No matter what your time-frame is on buying a new home it is never to early to find out where you stand.
I'm available to help you at your convenience if you wish.
I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.
If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”
Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist
Direct: 240-752-7549 Cell: 301-651-7822
Rate quote or live chat with me at the link below:
Bart Gabe - Lending Nationwide Since 1987
800 315 8803