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Asked by Melissa Stephens, Fort Wayne, IN Fri Nov 25, 2011

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Wed Jul 18, 2012
To piggy-back, you should have no problem getting approved as long as your debt to income is in line. There are several down payment (grant) programs out there for first time homebuyers in addition to the MCC. Ensure whomever you choose for your home loan that they are aware and offer these programs. Academy Mortgage does! 260-494-1111.
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cindy george, Agent, Auburn, IN
Thu Jul 5, 2012
Cindy George, Agent Auburn In
Hi, Melissa. It is relatively easy to get pre qualified. Just call one of the Mortgage Brokers. Ruoff, Summit or Hallmark. They are all very good to deal with.
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Katie Brown, Agent, Fort Wayne, IN
Fri Feb 10, 2012
Hi Melissa, Yes, sit down with a reliable loan officer. The credit score is important. They will want to know your income and debt and they usually want only 32% of your income to be alloted for housing. These guidelines are meant to protect you. But definately don't get pulled above what your might be comfortable paying either. Great question. If you aren't sure where to go, start with your banking institution, then check out a Mortgage company like Ruoff, Hallmark and Summit Mortgage. It is important first to see if you qualify, then ask about loan types, the interest rate, and the fees. Many neglect to learn of the fees associated with the loan so you will want to know that. My experience has been that I have smoother transactions with local loan officers, that I can call or meet in person. I have had some bad experiences with deals where the lender was outside the area and found on the internet.
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Anna M Brocco, Agent, Williston Park, NY
Sat Nov 26, 2011
There are other factors besides credit that determine qualification, income, debt, etc.; therefore visit with any licensed loan officer, after reviewing your overall financial information, a determination can be made; 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.
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Suzanne MacD…, Agent, Succasunna, NJ
Fri Nov 25, 2011
Your credit score looks good but that is only one of the things a mortgage lender will look at. They will also look at your debt to income ratio and some other factors as well. The best thing you can do is talk to a local mortgage banker. That is not the same thing as a regular bank. If you don't know one, call a local realtor and ask to be referred. if you DO qualify, you can thank the realtor by using them to help you find your home.

The mortgage banker will be able to tell you IF you qualify now, HOW MUCH you qualify for and if not WHEN you will be able to qualify and what you need to do in the meantime to make that happen. Don't be afraid to shop around for options and for rates and fees. When you find someone you are comfortable wtih, do exactly what they tell you to do. If you do, you will be in your own home before you know it!
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