Profile picture for user727993

Getting pre approved/ getting a mortgage

hello, I'm wondering how to go about getting pre approved, my fiancé and i are looking to start the process of buying a home, we are first time buyers with a limited budget, our credit scores are both around 670. 

Any info would help!
  • February 24 2014 - Monroeville
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Answers (7)

Profile picture for Drexel Hill Mortgage
Contact a mortgage broker.  In one call they will have multiple lenders and programs to choose from that makes the most sense.  They should do a thorough scrub of your income and finances so that you can have a plan to start searching for the home you want in the area you want. 
  • March 20 2014
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The very first steps to buying a home would be to speak with a lender that best fits your situation to get pre-qualified. Then when you do apply for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan. We will need to analyze your assets, credit, expenses, income, debt, employment, down payment, etc. We will then determine whether you qualify and how much your qualify for with this information. After you are pre-qualified then you can start looking around and make serious offers on homes. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • February 28 2014
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Your scores are good and your next step is to contact a lender(s) to get the pre-approval and have us look at your full picture, debts, assets, income to see what you actually can be pre-approved for so when you find a property and begin the process of getting approved it goes smoothly. That is what a good loan officer/lender will do.

Good luck and best wishes!
Scott
  • February 26 2014
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I'm a licensed lender in PA (from Pittsburgh area originally). I would just need 10-15 minutes of your time by phone and would have the Prequalification done within 2 hours. From there, I would send you a list of items that you would need to put together for processing. It's simple and free.
  • February 26 2014
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I would recommend that you speak to a mortgage broker who does business in your local area. 

When I meet with first time home buyers I like to give them referrals to trusted lenders.  Being in the business I know who gets the job done, or who has a reputation for being difficult to deal with.

If you need a reliable referral in PA you can contact me privately and I'll be glad to refer you to someone who can get the ball rolling for you.  She is also here on Zillow.
  • February 24 2014
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Contact a mortgage lender and get a pre-qualification.  This will help you identify what you could afford and be your guide in your search for a home.   There are many good mortgage brokers in Staten Island to choose from. Best of luck to you.
  • February 24 2014
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Profile picture for Dan Tabit
Congratulations!  Getting pre-approved for a mortgage is a relatively painless process of completing an application and providing some documentation that validates your application.  A great lender will have a full array of mortgage products and be patient to explain the process and the programs to you.  As a first time buyer, you have a steep learning curve and deserve answers. 
Your score (only one of 3) should be fine, but getting approved takes more than just credit scores.  You need secure income, assets to fall back on, down payment (in most cases) and good character. 
Ask people you know and trust for a referral to a great local agent.  Meet with them in person and see how things go.  Sometimes there are ways to improve your credit before you buy, so you can get a better rate or lower fees.  You can also talk to someone at the bank where you do business, although mortgage broker may have more options. 
  • February 24 2014
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