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Financing in Manchester Township : Real Estate Advice

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  • Local Info3
  • Home Buying2
  • Home Selling2
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Activity 2
Tue Sep 7, 2010
terryriw53 answered:
Well, first of all, you need to get with a reputable mortgage professional. There are no forms to be filled out for a pre-qualification. Being a Real Estate Pro, there are things that you can do to pre-screen a buyer before sending them off to your mortgage rep. It has to do with finding out what their ratios are and finding out if they have any major credit issues in their history. ... more
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Tue Aug 24, 2010
Robin Silverberg answered:
Edambro, regardless of how much you have to put down, or the fact that you have been renting for 7 years and have never been late, you still have to qualify for the mortgage. You income, assets and credit will have to be evaluated by a mortgage professional. Part of your credit report is what monthly debt you have. That must be added to the mortgage payment, which includes principal, interest, taxes, insurance, mortgage insurance and any homeowners association dues, to arrive at your debt ratio. So, if like a previous poster who asked about qualifying, you are paying $1200 a month to lease a car, and are a waiter who doesn't show all their income, you may not qualify regardless of your excellent rent history. ... more
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Financing in Manchester Township Zip Codes