One of the first steps to buying a home is getting the mortgage process started.  That’s where I come in!

I suggest that when shopping for a mortgage we sit down and discuss your options.  Here are a few questions we work to answer together.

• What type of mortgages do you offer?
• What are all the costs associated with getting a mortgage with your company?
• How long will it take for my mortgage to get approved?
• Where are your loans processed and underwritten?

The documentation that is required to get a mortgage will vary from buyer to buyer.  For the most part however, the documentation that is required to get a mortgage will be fairly similar.

When formally applying for a mortgage, there will be some initial documentation that I will require.  Documentation such as a social security card, one months pay stubs, and the past two years w-2’s are all helpful to get started. The documentation will be different for buyers who are self employed as well.

I might also need the following documentation;

• Drivers license
• Bank statements
• Asset statements
• Fully executed purchase contract
• Copy of an earnest money deposit check

A mortgage pre-qualification can easily be defined as an estimation of how much a buyer can borrow.  You can continue to my Tools and Calculators page in order to get a rough estimate for your mortgage. These tools are used as a quick estimate and does not mean you have been pre-approved.

A mortgage pre-approval, however, is what every home buyer should obtain prior to looking at homes.  A mortgage pre-approval can be easily defined as a written commitment for a buyer

One of the most frequently asked questions regarding mortgages relates to deciding what type of mortgage is best.  Since there are many different types of mortgages that are available for prospective home buyers, it’s important to understand which type of mortgage is best for you.

Below are three of the most popular mortgages that are available for home buyers wondering which type of mortgage is best.

• FHA Mortgages
• Conventional Mortgages
• VA Mortgages

Contact me to find out more information on which option is best for you!

The answer to whether a buyers interest rate will change or not is that it depends.  Depending on the type of mortgage a buyer obtains can determine whether or not their interest rate will change.  Mortgage products such as FHA mortgages in most cases will be a fixed rate mortgage, which means the interest rate will not change over the life of the loan.

A type of mortgage that can result in interest rate changes is known as an adjustable rate mortgage, which is also known as an ARM.  An adjustable rate mortgage will typically have a set amount of time in which the interest rate is fixed.  Once the fixed interest rate time is over, the rate will be subject to change.

A very common home buying misconception that exists is that a buyer needs a lot of money to purchase a home.  This is not always the case.  When a buyer asks about the amount of money needed to buy a home, the best answer is that it depends.

In addition to the down payment, buyers also need to consider costs such as an appraisal cost, home inspection cost, and other various costs.

Other typical costs and fees associated with buying a home which can impact the amount of money needed to buy a home include;

• Mortgage processing fee
• Real estate attorney fee
• Underwriting fee
• Bank attorney fee