Thanks for your post & congratulations on your decisions to purchase a home. YES you can get a mortgage for the full amount of the sales price if the location and household income are in line with the Lenders guidelines. When you start shopping for a home, most Agents and Builders want you to get pre-qualified, before they spend any time with you. However, being pre-qualified doesn’t mean you are ready to buy. In this market, property is moving faster than ever. So if you are ready to buy, you should get APPROVED by a competent Lender. Approval is similar to having cash in your pocket and this tells the seller you are truly ready to buy. In fact many listing Agents and Builder won’t even look at your offer unless its attached to a real pre-approval with FHA, Fannie Mae, Freddie Mac, VA or USDA Approval.
My Office hours are from 08:00 AM-07:00PM Mon-Fri & Sat 10:00 AM – 06:00 PM CST at 512-717-0403 or after hours at 469-347-3572 Cell. I am looking forward to hearing from you.
Lowell E. Sterling
The Federal Savings Bank