What do I need to have to pre qualify?

Asked by Cklynn43, Middlebury, IN Sun Jul 29, 2012

Bankruptcy discharged in 2008 previous foreclosure in bankruptcy. What will it take to get us back in a home of our own?

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James Deskins, Agent, Worthington, OH
Thu Aug 2, 2012
Pre-qualification is completely useless. Get Pre-APPROVED.
0 votes
Dave Piccolo, Agent, Indianapolis, IN
Thu Aug 2, 2012
You can get pre-quailifed by phone or online. All they need is your gross monthly income and monthly debt. A pre-qualification does not mean you are approved however. You are not approved until you make an official application with the lender and the underwriters have approved your loan. One important thing to remember is that there are no fees involved with getting pre-approved. If they ask you for money, then 1) they are taking advantage of you and 2) those monies are non-refundable. If you need a reputable lender to speak with, please let me know!

Dave Piccolo
Broker Associate
Re/Max Metro
0 votes
Tom & Katrina…, Agent, Elkhart, IN
Sun Jul 29, 2012
Depending on your current credit situation, you should be able to qualify now. We have many good mortgage lenders in Elkhart county that could help you.
If you would like a few recomendations, I would be happy to provide them to you..
0 votes
Jody Jones, Agent, Elkhart, IN
Sun Jul 29, 2012

It depends on where you go to get qualified. Some people will take your information over the phone, Others will want you to come in for face to face meeting. (I work with local lenders who will do both)

You can go anywhere to get pre-qualified, that does not lock you into getting your loan through that company, when the time comes to actually get a loan, you can still shop around for the best terms.

It just tells you what you can buy, so you don't go out and fall in love with a house that you wont be able to get a loan for.

I would be happy to talk to you about it, you can text or email me for local information,
Jody Jones
Realty Group Resources
Voted "BEST REAL ESTATE COMPANY" by Elkhart Truth readers in 2012
574 214 2746
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Suzanne MacD…, Agent, Morristown, NJ
Sun Jul 29, 2012
You should be able to qualify for an FHA loan now provided you have taken measures to improve your credit rating and not had any further problems. I would suggest you talk to a local mortgage lender. Not one of the big banks, but a smaller firm that specializes in writing mortgages. They will be able to tell you exactly what you qualify for today and, if there are still things that need to be handled, they will tell you what those are and now to take care of the issues. If you don't know of a local lender, call a local realtor and ask to be referred.

Good Luck.
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