How do you get a home loan is a great question. Having a lending background I am more familiar in this subject than some agents, but by no means am I an expert. The Walker Team has partnered with some of the best lenders in the nation to ensure our clients get only the best service possible, and have an expert on their side looking out for them in each stage of the transaction. Here is a brief overview of what to expect when getting a home loan:
*Get in touch with a great lender (which you can do here!)
*Allow yourself a half hour time block to speak with the lender about your financial situation
*Lender pulls credit and verifies that you can qualify for current loan programs that are available
*Be ready to supply documentation supporting the figures you have just given the lender. Typically they like to see 2-2-2. Which is 2 years tax returns, 2 months of bank statements, and 2 most recent pay stubs. There will be additional documentation, but those will most likely be mandatory.
*Once they have verified the information they can now issue what is called a Pre-Qualification letter. This letter will let you know how much money you are qualified to borrow, and will help you and your Realtor (which I would hope is The Walker Team!) zero in on a price point to search for your new home.
Now you are ready to begin your home search! Be sure to view a recent blog of mine that picks up where this one leaves off and explains the process of HOW TO BUY A HOUSE???