If you haven't done a mortgage purchase loan or refinance since oh, 2006 or so be prepared for some differences. Yes, rates are great. Really the lowest most of us have ever seen or are likely to see in our lifetimes. The underwriting criteria and adherance to guidelines you will experience now, though, is much stricter. A higher level of documentation and oversight is now applied to each and every home loan. Probably a good thing, right? We don't need another crash influenced by shoddy lending practices! Be prepared to provide more paperwork and corroboration of employment and assets than ever before.
Take Advantage of Loan Pre-Qualification Before You Start Your Home Search. You Will Be Glad You Did.
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A number of factors determine the price range of homes you'll want to preview - one of these factors is loan pre-qualification.
With our combined services package we can get you pre-qualified. Items considered when pre-qualifying for a mortgage loan include:
- Employment History
- Credit History and Scores
- Monthly Income and Expenses
With IML Real Estate there is no limit. From previewing homes, getting you top-dollar when you sell to obtaining purchase or refinance home loans - each client's needs are met with our combined services. Our experience ensures a comprehensive and seamless approach to buying, selling and financing your home.
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