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
Cell: (858) 248-3529
Fax: (872) 206-4349
NMLS ID: 256841
Loan Originator Officer
kelsey.brahl@nbkc.com
Direct: (913) 253-0152
Fax: (913) 383-5656
10700 Nall Avenue, Overland Park, KS 662
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