FINANCING
After we've had a chance to review your Credit Report, the next step is to share our knowledge with you about how a lender looks
at a loan application and what is typically needed to qualify for a home
mortgage. We are not the lender, nor do we originate loans, but we do work
with national lenders and very experienced loan officers who handle the loan
process for our customers.
It is our experience that many of our customers have never purchased a home
before or if they did previously own a home, have limited knowledge about the
entire mortgage process and what really to expect. Our job to is to assist
you in understanding all of this.
Many times we have used FHA back loans for our customers. When pursuing
a loan using FHA, the lender is going to require that you review a
Pre-Home Ownership Course. This course is designed to answer a lot of
questions that you may have about buying a home, will give you a better
understanding of what to expect when buying a home and prepares you for your
home ownership experience. The North Carolina Department of Community
Colleges put together, with the help of others, a great
Pre-Home Ownership Course which you may want to take a look at now.
Simply
click
here to go to the web site where this course can be found. You will
need a current Adobe reader on your computer to do this.
ALL lenders want to know the same basic information.
- What is your credit history
- What is your work history
- What is your current income
- What are your current debts
- And more.....
It may seem like a daunting task, but with patience and persistence, the loan
process is very straight forward and is very dependent on good record keeping on
your part. You will be asked to produce things like:
- Pay stubs
- W-2 Returns for the last 2 years
- Landlord reference letter
- Bank Statements
- And more.....
We will help you to to best of our ability, but you will have to gather the
majority of these items when requested by the lender in order to process your
loan.
Give us a call or send us an e-mail if you would like to know more about this
part of the home buying process.
Here again is our Credit Application if
you would like to get started toward your home purchase.
|
