Home Buying in Newnan>Question Details

Candice, Home Buyer in Sharpsburg, GA

Our lease is up in August 2013, how soon should we start to try and get preapproved and looking for home to buy?

Asked by Candice, Sharpsburg, GA Mon Dec 17, 2012

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Candice,
It would not hurt to contact a lender now/soon just to make sure everything is in order with you credit report and review the loan options available to you. Getting pre-approved for your loan is a key first step in the home buying process, this will save a great deal of time and frustration. Once you have a firm handle on your loans options an effective search can begin. Depending on the type of loan you go with you should allow at least 45 days for the loan process once you find a home and get it under contact.
6 votes Thank Flag Link Mon Dec 17, 2012
Hi Candice, August is coming up sooner than you think and the inventory is very slim at this time. Now is the time to be ready to buy for your August time frame.You must be pre-qualified and be on board with a lender and a real estate agent so that when the home that is just right for you is available you will be ready to make an offer and get it under contract. It is important to hire an agent that is familiar with the market in your area. I myself would be such an agent. Let me know if you would like my help or if I can answer any other questions.

Cindy Horsley
Bush Real Estate Group
404-519-6513
"Simply The Best"
0 votes Thank Flag Link Tue Apr 2, 2013
Candice - great question. If you decide you don't want to go the route of traditional lending (and the hoop-jumping sometimes associated with it), know you have other options. We specialize in helping perspective home buyers with credit issues move into their own home with no bank qualifying or scrutiny. If you wish to move into your new home now (if your lease allows), or later in the year, contact us to discuss your options. Either way, we wish you the best - HES

HomeEquitySolution@Gmail.com
text "HomeFree" to 55469 for info and FAQs
0 votes Thank Flag Link Sat Feb 9, 2013
HI Candice,
Getting Pre-Qualifed for a mortgage should be your very first step in the home buying process. Starting that process sooner rather than later is probably the best option. You would not want to wait until June to start that process in case there are any issues that need time to get worked through.

To close in early August, you would want to be under contract by mid June. You need to allow 30-45 days for most closings. If you are purchasing a short sale, it could be much longer than that.

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 203K (Streamline & Consultant), HomePath Renovation, and HomeStyle Renovation. In addition, we also have an FHA 580-639 FICO program for borrower with previous credit issues.

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.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Tue Dec 18, 2012
Candice, does your lease have an early termination clause? There is no reason you shouldn't start getting pre-qualified. There may be some things you need to work on or avoid doing in order to qualify. If you lease has an early termination clause, start working with a REALTOR to look for a home that works for your family. I am a Broker and do not work directly with clients, but I will be happy to assist you in finding a great Buyer's Representative to help you find a home. Linda Huff, Managing Broker, Prudential Georgia Realty, Coweta/Newnan office. Our number is 770-254-8333.
0 votes Thank Flag Link Tue Dec 18, 2012
Hello Candice,

All of the advise below is good advise. You will many folks compete for your business. While there are many top lenders, I do recommend that you select a top LOCAL lender. Someone who will take the time to understand your needs and who will recommend the loan products that are right for you. I am not a lender, but I am a full-time Local Realtor who has lived in Coweta county for more than 40 years. I have seen deals lost over the clients lender selection. I have 3 top local lenders that I refer to my clients and they will all work hard to make you the best deal possible and with your best interests in mind. Feel free to send me an email or contact me via my website and I will gladly send you my list of top local lenders. JoePowell(at)KW dot com
Web Reference: http://www.FREEGAMLS.com
0 votes Thank Flag Link Mon Dec 17, 2012
Dear Candice:

Hello, I am a mortgage loan officer and have been helping buyer with their mortgage for the past 20 years. In this day and age of rules changing and the credit acores changing and such. My suggestion is to look into what you qualify for now, just in case you need to work on anything.. Then you will have an idea of where you stand today.

You will need your gross income, SSN # for credit pull, DOB, Address, any monthly bill amounts. To start with.

This pre-qualification can be done over the phone.

et me know if I can be of assistance to you. Thank you and good question!

Lynel Adams
Sr. Mortgage Loan Officer
Silverton Mortgage
NMLS 359696
770-318-6740
0 votes Thank Flag Link Mon Dec 17, 2012
"Once" pre-approved is what I meant to say!
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Mon Dec 17, 2012
Interview lenders now. Learn sbout loan products now. Interview Realtors now. Select a Realtor to represent you soon and use Listingbook or a similar alert system to know the market. Make application with your lender of choice after you file 2012 taxes, early next year. File on time! One pre-approved, your Realtor of choice can take you to see properties that you want to see . Write a contract in June that closes in early August - your first mortgage payment will be due October 1...sweet.
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Mon Dec 17, 2012
Hi Candice,

I would start in probably May or June to get preapproved and looking to buy, that way you can prepare to move out of the place that you are renting and give a notice to your landlord. If you have any questions, give me a call: 678-739-8769.

Sincerely,

Alexis Shepherd
NuWay Realty
0 votes Thank Flag Link Mon Dec 17, 2012
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