Bianca, Renter in Granada Hills, CA

I need help getting pre-qualified for a loan. I don't know where to start. Any advice?

Asked by Bianca, Granada Hills, CA Fri Nov 22, 2013

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Visit with any licensed loan, check with the bank you currently do business with, any other bank, credit unions, any mortgage brokers; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
2 votes Thank Flag Link Fri Nov 22, 2013
First of getting pre-qualified and pre-approved are two completely different things. Pre-qualification means that mortgage broker will just give you an idea of how much you can borrow and if you can even do this. Pre-approved letter on the other hand give an exact max amount your mortgage will be. However, pre-qualification come first and basically consist of your won work, like getting better credit score, saving money for down payment, reducing debt and etc. This is to just get qualified. You can actually find some good tips at https://www.emortgagerates.com/new-home-mortgage/first-time-buyer
2 votes Thank Flag Link Fri Nov 22, 2013
It only takes a few dozen questions to qualify you in minutes and go over your options. You may qualify FHA from a minimum 580 fico score with 3.5% down or even as low as .5% half percent down payment program. You may qualify for 5% down conventional with NO Mortgage insurance (Lender paid MI) from a minimum 620 fico score.

It only takes 3-4 days to raise your fico scores to qualify for programs, rates and terms as necessary. You will need to gather one month pay stubs, two month bank statements, 2011 and 2012 W2's 1099's and tax returns, copies of your drivers license and social security cards for each applicant. Once these documents are received you can then be issued a pre-approval letter to begin searching for looking at and submitting offers on homes of your choice. You can be in a home of your choice within 30-45 days. Here is a Trulia blog.

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/ho…

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/wh…

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm Monday thru Saturday, Sundays by appt.
http://youtu.be/MrygA2_8fAY
If my response was helpful, consider clicking thumbs up or Best Answer!
1 vote Thank Flag Link Fri Nov 22, 2013
Hi Bianca,

You should talk to any local lender (bank, credit union, mortgage broker) regarding your financial situation to see if you can be pre-approved.

I would be happy to recommend someone to you if you need it.

Just send me an email to JamieTian@RodeoRE.com or give me a call at (310) 717-1321 and I would be happy to send their contact info to you.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
BRE #01920120
Web Reference: http://www.jamietian.com
1 vote Thank Flag Link Fri Nov 22, 2013
If you are currently working with a real estate agent, see if they have any preferred lenders you can talk to. I always think its best to consult with at least 3 lenders to make sure you are getting the best deal.
0 votes Thank Flag Link Wed Mar 19, 2014
When buying a home, the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.HelpUBuyamerica.com
0 votes Thank Flag Link Sun Jan 12, 2014
Hi Bianca! My team and I would be able to help you get pre-qualified immediately! Please contact me as soon as possible so that my team and I can help you get started with the home buying process.
Johnabarcelon@gmail.com
562 335 7968
0 votes Thank Flag Link Sun Jan 12, 2014
Hello Bianca,
Congratulations on the first step to getting a new home. If you are interested I have several people that I would love to recommend to you. Feel free to contact me at any time if interested. Good luck on your home search journey!

Sincerely,
Ricky Smiles Jr.
Rodeo Realty
rsmiles@rodeore.com
760.650.5024
BRE # 01940776
0 votes Thank Flag Link Sun Dec 8, 2013
Congratulations on your decision to purchase a home. Pre approval/ qualification is an absolute must, so it is great that you are thinking along those lines. It is important to consider your credit score, debt-to-income, down payment just to have an idea of how much leverage you will have. Once you have an idea of those key factors then you should contact your financial institution or ask a friend or a family member for a referral. Good luck to you!
0 votes Thank Flag Link Sun Dec 8, 2013
Bianca,
First of all you have to consider your financial situation. You need to have a good credit score, very low debt, have a stable income with verification and of cause you need to have money for down payment. In order to put an offer on the house, you need to get a pre-approved letter from your mortgage broker. You can find mortgage brokers online or go to the local bank because they usually have loan department.
0 votes Thank Flag Link Mon Dec 2, 2013
Hello Bianca,

You can start directly with you personal bank where you have a checking or savings account. Or my office has an in house lender who can assist you right away.

If you would like me to help you directly call me at 424-777-3930 or email me at sellwithdonna@kw.com.

I look forward to assisting you.

Donna Samuels
424-777-3930
sellwithdonna@kw.com
0 votes Thank Flag Link Sun Dec 1, 2013
Hello Bianca,

Congrats on deciding to buy a home of your own!!!!

I have a great lender who has assisted my clients. Shoot me an email and I will be happy to provide you with her contact info.


You could also start with the bank or credit union where you do your personal banking.

I wish you the very best!!!!


Kawain Payne, Realtor
KwaindPayne@gmail.com
0 votes Thank Flag Link Mon Nov 25, 2013
I am a good choice because if I feel like there is a better lender for you, I will give you that information and where to find them.

949-297-1207

Equal Housing Lender NMLS 287206
0 votes Thank Flag Link Mon Nov 25, 2013
Hi Blanca,

Happy Saturday !

I would reach out to family or friend or co- workers and ask them for a recommendation ,once you have a couple of lenders you could sit down with them to see who you feel comfortable with .Good Luck !
0 votes Thank Flag Link Sat Nov 23, 2013
Sure Bianca,
Go to the bank where you are already doing business and talk to a loan officer there. You can also contact a local Realtor who can help you.
0 votes Thank Flag Link Sat Nov 23, 2013
email Melissa Loeffer with RPM MORTGAGE

mloeffler@rpm-mtg.com
0 votes Thank Flag Link Fri Nov 22, 2013
Dear Bianca,

Congratulations on taking your fist step as a house hunter!

I would recommend you to talk to a local lender to get a very thorough pre-qualification (as close as possible to pre-approval) with all the documents that need to be verified. This way, you will be better prepared to make the offer in timely manner when you find the house you want, and there won't be any surprises or delays.

Generally the following documents are required by the lenders for pre-approval:

1. Copies of Federal portion of your tax returns including ALL schedules for two recent years.

2. Copies of W2’s and/or 1099’s for two previous years. (If applicable please provide any K-1’s)

3. If Applicable, need copies of Corporate returns (1120) or Partnership returns (1065-if ownership exceeds 25%) for same years.

4. Copies of most recent 1 month worth of paystubs showing what YTD income.

5. Copies of 2 most recent bank statements for down payment, closing costs, reserves and to show strength. This can be from Checking, Savings, Investment or retirement accounts. Please send ALL pages of each mailed statements or “e-statements”, no online printouts will be acceptable.

6. Credit Report - since you are at pre-qualification stage, if you have a recent credit report. When the time comes for you to get pre-approval, you will need to sign a form to allow your loan broker to run your credit.

Good luck on your journey to becoming a home owner! Happy house hunting!
0 votes Thank Flag Link Fri Nov 22, 2013
Hi Bianca,

You have many options to get your financing going...there is your regular bank, your credit union and of course our in house lender. If you need help I can introduce you to our preferred lender and they can work it out for you what it is you need to complete your financing. Feel free to contact me so I can get you in touch with them.

Charles Nierras
323-500-7690
Sellstate Preferred Properties
BRE 01935066
0 votes Thank Flag Link Fri Nov 22, 2013
Hello Bianca.
What area area you searching to buy a home? I can give you three lenders to choose from to get you started in order to determine your price range. Then we can take it from there.
Clint Lohr, Keller Williams World Media Center, 818-730-8635
0 votes Thank Flag Link Fri Nov 22, 2013
Congratulations in advance! Your loan is the heart of the operation. please call Tom Ramirez with imortgage 213.361.2000. or email him at tom.ramirez@imortgage.com. He'll walk you thru the gathering of your financial documents and help you determine how much home you can afford!

If I can be of any help shopping for your dream home after the fact, I am a phone call away! 626.975.9998.

Sara Covarrubias
LARE Network ERA
sarac@larenetwork.com
0 votes Thank Flag Link Fri Nov 22, 2013
Hi Bianca,

Try Chris Hendricks at (818) 655-6066 or email him at chris@chloans.com. Great guy, will definitely take good care of you. Then call or email me for your realty needs! chris.carson@sothebyshomes.com. I specialize in the SFV.
0 votes Thank Flag Link Fri Nov 22, 2013
Bianca,

Call Bruce Nangle at First Capital Mortgage 818-528-3033. He is an awesome broker who will explain everything that you need to get started and answer any questions you may have. Bruce always makes sure that you understand what is going on every step of the way.

If you need assistance looking for a home. I specialize in the San Fernando Valley and would be happy to assist you. Just click on "Contact" under my photo.

Angie Simpson
http://www.angiesimpson.com
0 votes Thank Flag Link Fri Nov 22, 2013
Hi Bianca,
Good start. Feel free to covtact me and I will give you a mortgage broker. Then, I may help you find a property that you'd like. My email is smehr818@gmail.com.

Thank you,
Sara Mehrpouyan
Rodeo Realty
Direct phone: 818-903-2040
http://www.AtHomeWithSara.com
0 votes Thank Flag Link Fri Nov 22, 2013
Hi Bianca, Thank you for your question. Please drop me a line and I will put you in touch with a great loan consultant! - Irina
0 votes Thank Flag Link Fri Nov 22, 2013
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