Credit & Finance

Assess your credit and finance is the next step in choosing and purchasing your home.

Information is provided by  https://homebuying.realtor/home-buying/getting-started/home-buyers-toolkit    and is deemed reliable not guaranteed

Determine your Credit Status

A mortgage Lender will review your credit history , identifying and resolving any credit problems to improve your credit rating  could bring preferred rates from Lenders and Home Insurers.

Selecting A Lender 

Your goal in selecting a Lender is to obtain a mortgage loan with terms that are in your favor. Contract different Lenders to discuss what they offer, rates, closing cost, and other fees.

Rates & Term

Interest Rate and Term are two of the most important factors in choosing a mortgage , largely determining the amount of your monthly payment.

Interest Rate is the percentage of loan amount you are charged to borrow money, higher rate, higher payment.

The  term of your mortgage, 15 or 30, paying off the same total loan at the same rate in less time will result in a higher payment.

Pre Qualification or Pre Approval

Pre qualification: An informal determination by a Lender or Mortgage Broker stating the amount you can afford

Pre  approval:  A guarantee in writing by a Lender to grant you a loan up to a specified amount , subject to receiving full documentation

A pre-approval letter or a pre-qualification letter can help demonstrate that you have a good chance of being approved for a mortgage for the amount that you’ve offered on a  home and will give the Seller confidence to accept your loan.

How Much Can I Afford

Lenders look at a variety of factors to determine the amount of mortgage .

Information is provided by  https://homebuying.realtor/home-buying/getting-started/home-buyers-toolkit    and is deemed reliable not guaranteed

For Mortgage questions

Tania Shanahan-McRae , GUARANTEED RATE
VP of Mortgage Lending
tania.mcrae@rate.com www.rate.com/taniamcrae
Office: (912) 771-2270
Cell: (858) 248-3529
Fax: (872) 206-4349
Address: 70 Hawthorne Lane, Suite B, St. Marys, GA 31558
NMLS ID: 256841
Kelsey Brahl, nbkc 
Loan Originator Officer
kelsey.brahl@nbkc.com
Direct: (913) 253-0152
Fax: (913) 383-5656
10700 Nall Avenue, Overland Park, KS 662
NMLS ID: 430039

Janet Harder   ,  Homestead Funding Corp.                                                                                                                                                                                                                                                        Assistant Branch Manager                                                                                                                                                                                                                                                                                                      Licensed Loan Originator                                                                                                                                                                                                                                                                                                                  318 Delaware Avenue Suite 15 Delmar, NY 12054                                                                                                                                                                                                                                                                       jharder@homesteadfunding.com                                                                                                                                                                                                                                                                                                 Cell – 518-727-4398                                                                                                                                                                                                                                                                                                                        Office – 518-729-3782                                                                                                                                                                                                                                                                                                                      Fax – 518-729-5938                                                                                                                                                                                                                                                                                                                  NMLS ID 64678

 

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