How Do I Get a Home Loan is a great question to ask when you're thinking about purchaseing a home. everyone needs to know where to start and finding out how you begin the home loan process is the best place to start.
- Finding a local Lender.
This is quite possible the most important part of getting started. As you proceed onward in the mortgage process you're going to need to provide a bunch of financial documents and I don't know about you but providing those to someone who is a complete stranger to me seems a bit sketchy. If you choose a local lender in your area, (if you're in Lee's Summit, MO you can choose us: KC Loan Tips!) We love telling people about this because we love getting to know our clients!
- Get Pre-Approved or Pre-Qualified.
The second step in asking the question How Do I Get a Home Loan is to get pre-approved or pre-qualfied with your local lender. This is a simple process where you'll provide your financial information to your lender and they will calculate how much you can afford to purchase a home for, in other words they'll figure out how much you qualify for in your home loan or mortgage. This way you know what price range to look at when you're out on the house hunt! This usually involves filling out an application, either in person, over the phone, or what's most common for us: applying online.
- Get Your Paperwork Together.
The next step once you've gotten pre-approved and have started the house search is to start gathering the documents that you'll need to use to prove your income and taxes to your mortgage lender. You'll need to verify all the information that you provided in your pre-approval application and also have your credit checked at this time. So be ready when your mortgage lender asks you for a bunch of documents.
IF you have more questions related to How Do I Get a Home Loan or any other mortgage related questions connect with us socially below or call us at (816)268-4025 or check out our Mortgage 101 series on YouTube.
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