http://www.Karma.com. Best of all is FREE.
Best of Luck,
2. Call several mortgage pros that are recommended to you by your agent, friends and family.
3. Ask them to provide a Good Faith Estimate of their costs.
4. Tell them your "story" of employment, tell them what your scores are, assets etc.
Ask how much you qualify for. A good mortgage person will be realistic, not overly optimistic,
and will point out good and bad of your situation - and the ways to "prepare" and correct your
financial profile, if need be.
5. Ask a lot of questions, and soon enough you'll be speaking the mortgage lingo
6. Amongst the knowledgable agents, ask what rates and APR they have - on the same day,
preferably same hour. Same note rate with lower APR is your guy/gal.
Hope this helps,
Beachfront Realty, Inc.
Coldwell Banker Residential Brokerage
You could then print it off and show it to perspective lenders if you feel comfortable in persuing a mortgage. However, the lender you choose will still have to run their own credit report before they could ever pre qualify you.
I've been told by some lenders that running your credit one time usually won't cost you many points if any. It's when you start showing multiple CR's that it will impact your score. Your combined scores don't appear to be that scary but be prepared to pay a little more interest.
If you don' have a good downpayment and can't produce an adequate employment history you may have a tough time qualiifing and might be better off renting until you get at least a couple of years of solid work history, save more money while building your credit. Good Luck.
I'm afraid your credit report and score is an essential part of getting pre-approved for a mortgage. No reputable lender is going to give you a solid approval without it.
Call me for more information.
A mortgage broker/lender will need to run your credit in order to see if you pre-qualify for a loan. It's unfortunately the way it works. I know a lot of my clients are worried about the effect it will have on their credit. Yes every time your credit is run it effects your credit, but it's a very small amount. Make sure when you're shopping for a loan your credit is not being run for anything else. Get referral for a lender from a Realtor or friend you trust. Hope this helps.
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