mortgage pre qualification: Don’t Let Your Student Loans Delay Your Homeownership Plans - 04/08/24 01:34 PM
If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers you need.
A Bankrate article explains:
“Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt . . . For … (3 comments)

mortgage pre qualification: What To Know About Credit Scores Before Buying a Home - 03/04/24 09:03 AM
If you want to buy a home, you should know your credit score is a critical piece of the puzzle when it comes to qualifying for a mortgage. Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article from US Bank explains:
“A credit score isn’t the only deciding factor on your mortgage application, but it’s a significant one. So, when you’re house shopping, it’s important to know where your credit stands and how to use it to get the best mortgage rate possible.” That means … (3 comments)

mortgage pre qualification: The First Step: Getting Pre-Approved for a Mortgage - 03/01/24 08:55 AM
Some Highlights If you’re looking to buy a home in 2024, getting pre-approved is a key piece of the puzzle. Mortgage pre-approval means a lender checks your finances and decides how much you’re qualified to borrow. As more buyers re-enter the market, it’ll help you make a strong offer that stands out from the crowd. Talk to a trusted professional to learn more and begin your homebuying process today.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or … (3 comments)

mortgage pre qualification: Avoid These Common Mistakes After Applying for a Mortgage - 01/10/24 09:13 AM
If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s a list of things to remember when you apply for your home loan.
Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any cash into your accounts, discuss the proper way to document your transactions with … (2 comments)

mortgage pre qualification: What You Need To Know About Down Payments - 12/15/23 01:44 PM
Some Highlights If you want to buy a home, you may not need as much for your down payment as you think. There are various loan options for qualified buyers with down payments as low as 3.5% or even no down payment requirement. There are also thousands of programs available to help homebuyers with their down payments. With the right resources, your down payment may be more within reach than you realize. To learn more about your options, let’s connect.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
Facebook
Linkedin
Twitter
Instagram
The information contained, and the opinions expressed, in this … (2 comments)

mortgage pre qualification: Beginning with Pre-Approval - 09/25/23 07:21 AM
If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success from the start of your home search.
What Pre-Approval Does for You To … (2 comments)

mortgage pre qualification: How To Know If You’re Ready to Buy a Home - 08/02/23 07:17 AM
If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.
While housing market conditions are definitely a factor in your decision, your own life and your finances may be even more important. As an article from NerdWallet says:
“Housing market trends give important context. But whether this is a good time to buy a house also depends on … (1 comments)

mortgage pre qualification: Ways To Overcome Affordability Challenges in Today’s Housing Market - 04/28/23 01:55 PM
Some Highlights With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted lender to consider alternative financing options and search for down payment assistance. If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
Facebook
Linkedin
Twitter
Instagram
The information contained, and the opinions expressed, in this article are not intended … (3 comments)

mortgage pre qualification: The Power of Pre-Approval - 04/24/23 06:47 AM
 
If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved.
To understand why it’s such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your … (2 comments)

mortgage pre qualification: Pre-Approval in 2023: What You Need To Know - 01/21/23 09:10 AM
One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:
“In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.”
Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand your options and what you may be able to borrow.
How does it work? As part of the … (4 comments)

mortgage pre qualification: Applying For a Mortgage? Here’s What You Should Avoid Once You Do. - 12/28/22 06:36 AM
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan.
Don’t Deposit Large Sums of CashLenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.
Don’t Make Any Large PurchasesIt’s not just home-related purchases that could disqualify you from your loan. Any … (7 comments)

mortgage pre qualification: Applying for a Mortgage Doesn’t Have To Be Scary - 10/28/22 09:10 AM
Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take fear out of the equation.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake … (5 comments)

mortgage pre qualification: Four Things That Help Determine Your Mortgage Rate - 10/12/22 06:57 AM
If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically.
If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice.
Your Credit ScoreCredit scores can play a big role in your mortgage rate. Freddie Mac explains:
“When you … (4 comments)

mortgage pre qualification: How an Expert Can Help You Understand Inflation & Mortgage Rates - 09/27/22 05:21 AM
If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one.
Inflation and the Housing MarketThis year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home.
While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled … (2 comments)

mortgage pre qualification: A Crucial First Step: Mortgage Pre-Approval - 09/16/22 06:28 AM
Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted professional to learn more and start your homebuying process today.  
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951
email: info@phphouses.com
Let’s Connect:
Facebook
Linkedin
Twitter
Instagram
The information contained, and the opinions expressed, in this article are not intended to be construed … (4 comments)

mortgage pre qualification: Why Pre-Approval Is a Game Changer for Homebuyers - 07/19/22 05:51 AM
If you’re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today’s shifting market?
The truth is, getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways.
To better understand why, it’s important to know what pre-approval is. Freddie Mac defines the process like this:
“A pre-approval is an indication from your lender that they are willing to lend you … (2 comments)