*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Are you looking to purchase a home? Do you need a loan in order to help you do that? Starting out can be a nerve wracking task. Just remember though, that taking the first step leads you towards a place where you can call home. The home you fall in love with can become a place of refuge from the world, and a place of learning and peace for you and your family.
The ultimate first step is reaching out to a Mortgage Loan Originator, like myself, to get an idea of how much of a loan you'd qualify for, and getting a pre-approval in hand.
One of the first things that a Mortgage Loan Originator will ask you to do is fill out a Loan Application (also known as a 1003 URLA). This Application will lay a foundation for your loan process and will give loan officers information that will help them to understand your financial situation better. Your loan officer will also ask for your last two paystubs, your last two years of tax returns, and permission to pull your credit among other things.
What information is on your paystubs, tax returns, and credit history that could help a Loan originator? For starters, it will help us to understand, more accurately, what your income is and what your debts are. This information will help us to give you accurate readings of what you'd qualify for and help loan officers and processors to understand the basics of what's involved with your file. Once the loan officer gets a grasp on your file, they can put together a pre-approval. The Pre Approval tells sellers that they can be confident that you are able to purchase their home.
With a pre-approval, a budget, and a good team around you, you can now take confidence that your forever home may be just around the corner.
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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