Profile picture for Marmar20

Am I too late to move out by June?

My parents are giving me money for a downpayment (wedding gift) in a week (it's march now). We are renting right now and would like to move out in June. Do I have time to get pre-approved? My husband also owns a business (s-corp). Does it take longer to get a loan? We are first time buyers and have no idea where to begin!
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March 07 - Naperville
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Answers (7)

You have plenty of time to own a home by June! Talk to a lender and get preapproved. Your husband income may be a little tougher for a lender to qualify though. Preapproval is just a quick phone call away. I have a few that I work with if you need a referral.

It also really depends on what type of home you find. If you are wanting to move into a home by June, I suggest staying away from short sales as they take time and a lot of patience.

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March 12
It sounds like you have plenty of time. The first thing you want to do is to contact a lender and have them give you a free professional assessment. They will take a close look at your income, assets, liabilities and creditworthiness to decide if you are eligible for a loan. Feel free to contact me with questions or if you would like me to take a look at your situation in more detail.

Thank you,

Ashley Pimentel
Market Place Mortgage

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March 07
You will be popular. My web site has some lender references. Give them a call and see what they can do. They do not charge to speak with you and once you speak with a few of them you can pick one to work with. You have time to find something by end of June. Just hook up with an agent to help you.
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March 07
Profile picture for wetdawgs
well, whether or not you are too late depends.   Is there anything wrong with July or August?

Are you qualified for a mortgage?  call some lenders to review your specifics.

Can you find a house you love and want to own?    that takes time.

Here's a link to the home buyer's roadmap.  Never turn purchase into an emergency, you may regret it later.   Do it right the first time, that includes spending time to find the right lender and the right agent.
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March 07
Hello:

First of all Congratulations! 

It's not a problem to get you preapproved today so you can go out looking this weekend.  We work with many customers that are self-employed so that would not be a problem. Please click on the logo next to my name and I would be happy to help you with that.  I am a Naperville Mortgage broker; we work with over 25 lenders to help get you the best possible financing.

I look forward to hearing from you!

Best regards,

Patty Harrison
Smart Mortgage
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March 07
No you have plenty of time, there is just more documentation that is needed.  [self promotion deleted by Zillow moderator]  The process is pretty painless.  You should have no worries.
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March 07

In short, no!
You should definitely get pre-approved, because many delays happen because underwriters need documents from the buyers that they haven't received yet. This is especially likely for business owners and independent contractors, because their earnings are harder to verify than an employee with a regular paycheck.

I know a great mortgage broker in your area, Barb Lanis, who has helped a great number of first time homebuyers AND business owners go through such details. Please give her a call at 630 660-8868.

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March 07
 
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