Do I Qualify for a Mortgage Loan??

Mortgage and Lending with Nuhome Mortgage 245813/835196

Do you qualify for a mortgage loan?


Let’s be honest, after renting or living with your relatives, you have dreams about owning your own house one day. Although that’s an ultimate goal you’d like to achieve, most do not know the first few steps it takes to get started on the process. Do you qualify for a Mortgage Loan? Keep reading…


How’s your credit?

Since lenders take a big risk in allowing you to borrow such a large sum, a good credit score and history will improve your chances of being approved. Poor credit could cost you a higher interest rate.

Don’t have any credit? Take the initiative to start now. You can apply for a secure credit card, receive credit through paying you cell phone bill or even Conn’s can help you on obtaining a credit score.


How much can you apply for?

Don’t overreach. Rule of thumb is to keep your housing cost (Mortgage, Insurance etc) to 30% of your income, most recommend aiming for 25%. No, need to worry we at NuHome Group cover this with you when you get Pre-Approved.


What documentation do I need for a Pre-Approval?

Get pre-approved by your lender to improve the chances of your bid being accepted. It also gives you a better idea of what you can afford and make house hunting more pleasant.

Here are the items you’ll need for a pre-approval:

-2 most recent years of tax returns along with your W2’s or 1099 forms

-2 most recent bank statements (showing the funds you will be providing for closing cost, earnest money and your down payment)

-A months’ worth of paystubs. (May be 2 paystubs or 4 paystubs)

-A copy of your ID and Social


Once you ask yourself these few questions and realize you are ready to start your loan process, come on over to NuHome Group, we can surly help! Need more information on obtaining a home loan? Visit our Active Rain blogs!


Have any questions? Feel free to give us a call. (713) 373-0345. We make lending easy!


NuHome Group LLC

1445 North Loop West Suite 105

Houston, TX 77008

NMLS# 245813/835196

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