In our last blog entry we explained the importance of starting the preapproval process three to six months before you plan on moving into your new home. Preapproval will provide you with an accurate snapshot of your financial status and will give you an estimate of your budget for your home. In the preapproval process,…
Preapproval is a crucial step in securing a mortgage for your new home. But when is the best time for you to get preapproved? Immediately! You should meet with a loan officer three to six months before you plan on moving. If you are looking to move quickly, talk to a loan officer as soon…
Buying a house is a complicated process that involves a large network of different agents. If you are buying a home for the first time, I strongly recommend seeking professional help through every stage of the process. A trusted professional provides experience and insight as well as a network of professional contacts that you might…
In today’s housing market, a letter of preapproval from your mortgage loan officer is very important when shopping for your new home. Many sellers and seller’s agents will only take a buyer seriously if they have obtained preapproval. Preapproval benefits both the buyer and the seller. The buyer is given a relatively solid estimate of…
There are numerous benefits to being self-employed, but being your own boss can sometimes make it more difficult for you to secure a mortgage. Lenders tend to see the self-employed as a larger risk because their income levels can be highly variable from year to year. Here are several important variables to consider for those…