Getting a mortgage in today’s world is more difficult then it has been in years past. It is very important to get pre approved before starting the process of buying a home. If you are prepared everything will go smoothly and stress free! It is hard enough to face this challenge of knowing what home is best for you, if you have the loan part finished then it will be that much easier on you!
I work with first time home buyers and buyers who have purchased multiple homes. It is important for all to be pre-approved.
A lender looks at certain criteria: Credit, down payment, job and ability to pay back mortgage and value of property.
Depending on all the above, it is my job to go over all your options. What program best suits your needs? What kind of loan do you qualify? How much of a house payment can you afford? What is your comfort range?
Also to decipher what is fact and what is bull ---- There is a lot of misleading information on the radio; Rates quoted are also very misleading too.
So the best thing to do is get preapproved and get all the facts before shopping for your home.
Get these items together: 2 years most recent W2s, tax returns (if self employed or commissioned). Most recent 2 paystubs and most recent 2 months asset statements. I will also need your driver’s license and your social security card.
We can do over the phone or through my website www.dawnbaker.com or we can meet in person.
FHA is a great loan for persons with lower down payment. Down payment is changing to 3.5% effective 1/1/09. Still can be your own funds or a gift from a relative.
I pride myself on my knowledge and my company’s knowledge. Rules are constantly changing. We are the largest individually owned mortgage company in St.Louis and St. Charles ! We are a mortgage banker not a mortgage broker. This is important because this means we control everything in our main office in St. Louis , MO. We control all aspects of processing your loan to closing and funding your loan. Our rates are more competitive because too.
We can do loans in most states!
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