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I'm looking to buy my first home and want to know where to begin qualifying for a mortgage

  • February 01 2014 - Mayfair
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Answers (23)

Hello:

I am a local mortgage broker and would be happy to help you get prequalified for a mortgage. 

Other companies require a 640 and above score to help with financing; our lenders will go as low as a 550 score.  SMC carries an A+ Better Business Bureau Rating and we have worked in the community for over 15 years!

Please call or email me so we can set aside some time to get you prequalified; or visit my website to complete the application by clicking on the logo next to my name.

I look forward to working with you!

Patty Harrison
Smart Mortgage

  • February 25 2014
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Best advise is to get fullu approved upfront.  That involves a full loan application with income and credit.

We do it all the time and it doesn't cost anything.  Happy to help you
  • February 19 2014
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Yes [Content removed by Zillow Moderator. Please see our Good Neighbor Policy]   Thank you for your time. Rick
  • February 19 2014
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Profile picture for bsorenson1

You will want to speak with a lender and get pre-approved before you go to a realtor and have them start showing you properties.  Its important to know how much you qualify to buy, what type of program that best suits you, how much money you will need to put down, if the payments are affordable to you and your lifestyle and budget.  If you have had credit issues in the past its good to address that with the lender. The lender will want to know income and asset information and employment information make sure you have that information ready.  Once you are pre-approved the lender will issue a letter stating what you pre-approved for that you can give to your realtor and then go shopping for a new home. You should be able to be approved by underwriting based on your information and documentation before you write an offer that way you know you are solid and personally approved. Then it's just a matter of getting the signing a purchase contract and getting an appraisal done and making sure the house you picked out is also approved with out any major issues per the loan program that was choosen. I would be happy to help you get pre-approved for the purchase of a new home.

Regards,
Brynn

  • February 19 2014
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Right here, lots of good lenders on Zillow.  Just make sure you get a full approval not just a pre-qualification.  What area are you looking to buy in?
  • February 18 2014
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You can find a Realtor and ask who they prefer working with as we all have lenders we work with and trust who can get it done. We also know many lenders who help improve credit as well to help you prepare if for some reason you do not qualify for a loan.

Everyone will tell you what you want to hear but you need someone to tell you the cold hard facts so someone who you can trust is the best.
  • February 11 2014
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Reach out to a lender. I recommend [Removed by Zillow moderator. Please see our Good Neighbor Policy for information.]
  • February 06 2014
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When wanting to purchase a home a couple questions to ask yourself:1. Whats my credit look like? 2. Do I have any kind of downpayment? 3. Have I thought about mortgage insurance being included inside my payment? 4. Can I really afford this payment?
  • February 05 2014
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Congrats!!!

If you are working with a Realtor ask the Realtor for a referral. Ask friends, family , co- workers if they have a great lender. 

It is good to meet the lender in person. Sit down and have all your questions answered. 

Good Luck. 
  • February 05 2014
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Many years ago Zillow created a Mortgage Marketplace designed to help Zillow customers shop for and find a lender.  These lenders are screened by Zillow and rated and reviewed by past Zillow customers.  

Click on the Mortgage Rates tab above to enter your potential purchase scenario to see a ranking of Zillow lenders with the lowest rates.  There, you'll be able to see their ratings and read reviews of past clients.  

Just about any lender today can help you qualify for your first home, but there are fewer still who have the lowest rates and have a public, online profile with written reviews of experiences from their past clients.  

If you choose someone local, make sure you've looked for any information about them online and see if they have any Yelp or other online reviews.
  • February 05 2014
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Jennifer Z. covered it pretty well, both times.  I would stress the point about sitting down with someone and getting your questions answered up front and as soon as you can.  Some problems can be fixed quickly and others will take 60 to 90 days to correct.  Try to find someone local so you can meet face to face and see if the loan officer and the company give you a good feeling.
  • February 05 2014
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Congrats on starting the home buying process! The next step is to not only find a realtor, but to speak with a lender that best fits your situation. 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. The best thing for you to do is to speak with a lender such as myself to see if you can get started on financing a new home. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
  • February 03 2014
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Make sure you get a referral for a mortgage professional from someone who has worked with her. I would talk to at least a couple from different companies to compare. Let me know if you need any referrals. 
  • February 03 2014
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There's a lot of great loan officers out there that can help you. I am licensed in Tennessee And Virginia.  What state are you trying to purchase your home in ? I would be glad to help you with any questions that you might have.
  • February 02 2014
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Congrats and Good Luck!!

You want to find a Mortgage Loan Officer you TRUST and with whom you have good rapport.  This person will know the intimate details of your financial life so there needs to be a comfort level.  This loan officer also needs to shoot straight and not sugar coat the details.  You need to know EXACTLY what to expect so you can properly plan. 

Contact this loan officer as early in the process as possible to as to identify any potential credit issues, etc.  These can be repaired and if budget/down payment is a problem, a good loan officer can help you plan with these issues, as well. 

There are thousands of Mortgage Loan Officers in Chicago land.  It is not rocket science.  You want to go with a loan officer that is competent, AND with whom you can forge a possibly long-standing relationship.  This person may be in your life for years offering advice on refinances and future mortgages.  You want to build a level of trust and honesty that is not easy to shake. 

Also, get a FREE credit analysis ASAP and a FREE pre-approval as soon as you can.  As I said, you want to identify any potential issues as soon as you can so you can work through these and have realistic expectations. 
  • February 02 2014
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You want to talk to z loan officer 1st. I have one that has bern in business for 19 years and is licensed in 11 states. Please let me know and I will provide you with her info Nd a Referral for a good Realtor.
  • February 02 2014
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You may want to find a Realtor first (a good one). They should have a team ready to make your transition into home buying as smooth as possible. :)
  • February 02 2014
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Here are a few of my favorite lenders:

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Please let them know I referred you and good luck!
  • February 02 2014
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I would agree planning ahead is what needs to be done, that is why it is so important to go through a scenario of what you can afford, how much down payment is needed, how much savings you do need, etc. with a  loan officer.  Any good loan officer should do this without pulling credit first but at some point they will need to check your credit to your credit scores and it would be a good idea for you to know so that there will be no surprises on your credit report.
  • February 02 2014
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Call al lender! If you need a good referral let me know. But I would call up a couple and see who can offer you the best rate and who you mesh best with. 
  • February 02 2014
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A thumbs up from me for Jennifer's reply !
  • February 01 2014
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Jennifer gave good input, and I would also suggest that you look at your checkbook and determine how much of an increase you could handle with higher housing payment; and additional expenses for repairs, utilities, reserves, etc. Basically if you are not savings that difference, it may not be time yet to buy a home. If however you have been able to save a down payment and closing cost with 3 months+ in reserves, then it is time to get a referral from friends/co workers to a local loan officer and make appt to go over your finances, credit score, employment history, etc to obtain a pre approval letter.
  • February 01 2014
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Hello and good luck!  Buying your first home is an exciting journey.  In this tough lending environment it is extremely important to plan early.  You want to view your credit and figure out how big of a loan for which you will qualify.  As part of that process, you want to figure out what your monthly payments will be based on various loan amounts, down payment scenarios... so that you can pick a purchase price that fits comfortably within your budget.  Seek out a mortgage loan officer in your area that you trust.  Have this person run a free credit analysis (if there are credit issues, you want to know now so that you can address them).  Your loan officer will also need to review your income and your asset documents so that he/she can run an accurate pre-qualification on you.  This will tell you what you can afford, and from here, you will be ready to work with a realtor on finding a property that fits your need... and that you can afford. 
Again, good luck!!!!
  • February 01 2014
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