|
| Improve your chances for a loan |
|
| Improve your chances for a loan |
 |
| You will need to file an application, then wait for loan approval. It is in your best interest to obtain loan approval and qualification, before beginning the search for a new home. |
|
|
|
Order a copy of your credit report.
The mortgage broker will also order a copy, but
you should see it first. This will give you
a chance to clear any credit problems before
you submit the loan application. |
| Organize your recent tax returns and financial documents. The lender will need your financial information to determine how much you can borrow. If you don't have all the paperwork, you can get copies by contacting your tax-preparer, and any other people who deal with your personal finances. |
|
You will know how much you can borrow, so
you don't waste your time looking at
properties you can't afford. |
|
You will have an edge when you make an offer,
because the seller knows you're qualified to
get a loan and close the deal. |
|
You will save time when you file your loan
application,
because you've already
assembled the required paperwork. |
|
Contact at two or three lenders.
They
will qualify you based on their current
rates and loan programs. Be aware that
lenders may persuade you to choose a loan
immediately. |
|
Talk to two or three mortgage brokers.
They will qualify you
after reviewing the loan plans offered by all the
lenders. You may have to pay a fee and may be
persuaded to make an immediate decision. |
|
|
|
