APPLYING FOR A MORTGAGE

Applying for a mortgage can be exciting but also a complex process. One shoe don't fit all. First and foremost working with a lending institution this helps you determine your budget and how much of a home you can afford. It is very important to have a clear understanding for your financial situation. They calculate your income, expenses and any existing debts to determine how much you can afford to borrow. Your credit score get's pulled and reviewed for credit worthiness. It is best practice to monitor your credit report at least twice a year for any errors. there are many common errors that can be reported on your credit report. Start out with incorrect personal information, account information, duplicate accounts, closed accounts, unauthorized accounts and outdated information just to name a few. These can result in negative reporting on your report and you must immediately take swift action to correct. To understand even more about costly mistakes, click on link to learn more about mortgage mistakes /MORTGAGE-MISTAKES---32819---32836---Dr-Phillips-6-24049.html

LENDERS

Lenders will be requesting standard required documentation such as the most current two years of taxes, proof of income, bank statements. This may vary from lender to lender. It is suggested to shop around for the best mortgage options that fit your specific needs, like interest rates loan term and fees. Up to this point you are well on your way for a pre-approval before you start your home search. This will give you a better idea on how much money you can borrow and help you stand out as a serious homebuyer and not miss your dream home due to competition. As you complete this application and loan processor is comfortable, your application now moves into underwriting for final approval. Mortgage rates kakes a huge difference in your monthly payment, click link to understand on how mortgage rates and inflation can educate yourself /MORTGAGE-RATES---32819---32836---Dr--Phillips-6-23704.html

Keep in mind many underwriters can be very picky so don't take this personal. They have a huge responsibility to do do a cross check of all documentation and all numbers line up. Click link to learn more about mortgage lenders /MORTGAGE-LENDERS---32819---32836---Dr--Phillips-6-20247.html

MORTGAGE PROFESSIONAL

Remember it is always a good idea to consult a mortgage professional you feel comfortable with that can guide you through the process and answer any specific questions you may have. There are many challenges in the current real estate industry starting August 15th 2024. Click link to learn more about real estate challenges /REAL-ESTATE-CHALLENGES---32819---32836---Dr--Phillips-6-26057.html

Consult Kevin Strawter a professional realtor to be informed at 850 496-6412 and for any lender referrals. I want you to buy a house this year! Vote for me!