The Home Buying Process...What comes first?

Step One of the Home Buying Process: Mortgage Pre-Approval - How much house can you afford?

What is a pre-approval? A lender reviews your financial situation and determines if you qualify for a mortgage, what your maximum monthly mortgage payment could be and what price range is suitable for you.

Why is it important? Being pre-approved for a certain amount prevents you from falling in love with a home that you cannot afford. It also prepares you for the mortgage payment and closing costs involved with purchasing a new home.

How do I get one? At the end of this package is a short list of mortgage consultants that some of my previous buyers have teamed up with. Contact one of them to get pre-approved and gain insight on the mortgage process. You will need your bank statements, pay stubs, tax returns and social security number available to you to answer some of their questions.

What's usually calculated in your monthly mortgage payment?
Principle
Interest
Taxes
Insurance
Mortgage Insurance
and HOA
(P.I.T.I.M.I & HOA)

Questions to get answered:
-What type of loan programs is there and which one should I use?
-How much should I have for a down payment?
-Do I need closing cost assistance?
-What is my credit score?
-How much can I afford for my monthly mortgage payment?
-What are interest rates like today? Are they expected to increase?

Amber N. Johnson
Licensed REALTOR ®
Your First Time Home Buyer and Foreclosure Specialist
Mickey Hage, Inc. Real Estate Specialists
Cell: 321-689-8196
Email: amber@mickeyhage.com
Website: www.orlandoforeclosurespecialists.com

Serving most of Central Florida including: Downtown Orlando, Colonialtown, College Park, Baldwin Park, Conway, Lake Nona, East Orlando, UCF, Waterford Lakes, Avalon Park, Bithlo, Christmas, Hunters Creek, Dr. Phillips, Windermere, Metrowest, Ocoee,  Maitland, Oviedo, Winter Park, Casselberry, Winter Springs, Chuluota, Sanford, Lake Mary, Longwood, Altamonte Springs, Disney, Kissimmee, Saint Cloud, and Harmony