Robin Smith
NMLS 158837
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    Buying A Home

    Before You Buy

    Before you begin searching for a home, you will need to determine how much home you can afford. You may be able to afford more (or less) home than you think. A lender is willing to loan you money based on your income and the amount of down payment you can provide. By getting prequalified first, you will save yourself time, energy and frustration by only looking at those homes that meet your needs.

    Determine How Much You Can Afford

    Prequalification helps you buy as much home as you can afford based on your income and your current monthly obligations. You will also find out the payment amount of your new home so you can work that figure into your monthly budget.

    Show You What Your Down Payment Will Be

    You will get an idea on your total monthly expenses (principal and interest payments, taxes and insurance) and you can also request an estimate of total closing costs and the amount you will be required to bring to closing.

    Identify the Loan Programs You Qualify For

    With the wide variety of loan programs available, it's important to know which types you qualify for and which will best suit your needs. This program may include:

    • Special First-Time Homebuyer Programs
    • Co-mortgagor Financing
    • Low Down Payment Programs
    • Debt Consolidation Assistance

    In order to prequalify you, we will need to know the following:

    1. Your Employment History and Income
    2. Your Monthly Debts and Obligations
    3. The Amount and Source of Cash For Down Payment and Closing Costs

    After completing our Free Mortgage Loan Analysis, which allows for a better understanding of your financial profile, your Loan Officer will discuss the different alternatives with you over the phone. When you are qualified, we send you a prequalification letter to present when you make an offer on a house. The seller may be more likely to accept your contract because they know you are prequalified to buy their home.


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