We’ve perfected the purchase process for homebuyers! A few things you should consider prior to starting the search for your dream home:
Get pre-approved by a legitimate company that can assess your capacity to purchase a home. You will want a professional to actually know the lending requirements and underwriting guidelines, as well as rates and programs available to you, before you begin shopping for a home. This will entail analyzing your credit score, your income, your current debt, and your projected new debt with the home loan, and ensuring that you can qualify for a great mortgage with a low rate.
Lending requirements and underwriting guidelines for purchase loans are much different than those for refinance mortgages. So be sure to speak to a mortgage professional who thoroughly understands the purchase loan process.