THE MORTGAGE OUTLET offers mortgage rates in EAST PATCHOGUE, NEW YORK at 3.625 with an APR of 3.70*. No Points or Origination Fees Charged. Call DAVID BAILEY at 631-767-8948 to see how much The Mortgage Outlet can save you. We have been providing lower rates than most lenders since 1988. Call us at 631-589-3600 for today's rates
The first step to homeownership in EAST PATCHOGUE, NEW YORK is to arrange for financing by getting pre-approved prior to looking for a home. Having the right pre-approval can mean the difference between a smooth purchase process and a stressful one. The following items must to be reviewed before you can be given a real pre-approval.
1. Last 2 years Tax Returns
2. Last 30 days Pay Stubs
3. Last 3 months Bank and Asset Statements
4. Credit Report
Having the right pre-approval can mean the difference between a smooth purchase and a stressful one. Here’s some info you need to know regarding the importance of having a professional review the above 4 items.
Tax Returns/Paystubs: There are many sections on a tax return that most consumers are completely unaware of that will reduced their W-2 income and cause a delay and even a denial of their loan application.
Bank Statements: These statements do not just confirm how much money you have in the bank. Many lenders are now questioning minor deposits. It is always best to know in advance what concerns your lender might have with you as a borrower.
Credit Report: Know where you stand with your Credit and Fico scores. Credit must be run from 3 bureaus, Experian, Equifax and Transunion, in order to determine your Fico scores. Mortgage lenders use your middle scores along with the rest of your information to measure your likelihood of paying back the debt on time. After your credit has been run, sit down and review the accuracy of the report and check all balances to make sure everything on it is correct. An experienced loan officer should be able to advise you on how items can be removed if they are not yours and how to increase your scores to help you get a better rate. Always get a copy off your report.
BEWARE if you have been given a pre-approval without completing these four steps, you could be jeopardizing your purchase in EAST PATCHOGUE, NEW YORK. Please email me at firstname.lastname@example.org and I will send you what a pre-approval should look like at no cost or obligation to you.
*Interest Rates, Program Terms and Conditions are subject to change without any notice. All rates are subject to change. The rates quoted are for purchases only with a 740 credit score and a LTV of 80%. If down payment is less than 20% mortgage insurance may be needed, which will change the APR quoted. Other restrictions and limitations may apply. Mortgage rates and APR are effective as of 3/1/13