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how can you find out if you qualify for a motgage to buy a home?

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December 05 2012 - Millbury
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Answers (4)

As everyone else has said, talk to a reputable mortgage lender who will be able to take you through the pre-approval process.   Look for loan officers with good reviews and references or ask family or friends for referrals. There are a variety of programs out there and a good loan officer will also be able to tell you what your best option might be.  If you need a referral to a loan officer, I'd be happy to give you some.

Good luck with your home search!
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December 06 2012
Try to contact at least two morgage brokers they will be able to tell you if you qualify to purchase a home right now and if not what needs to be done to obtain a loan.
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December 05 2012
Get with a good local lender. They will need you to fill out a 1003 loan application, and run your credit to verify your credit score (mid fico score). The supporting documentaion they will need is the last 2 years tax returns with w9s, one months pay stubs, 2 months bank statements, and any other statements for other assests , like 401K, retirement plans etc. They will also need to know how much down payment you have available.

With the above a lender can prequalify you and let you know if you qualify and for how much. A good lender will give you a game plan if you did not qualify so you can start to correct or improve your qualifying ability.

I hope this helps.

Let me know if you need help with finding a good loan officer.

Thanks!

Marco Bernardino
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December 05 2012
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A good lender will be able to tell you quite quickly.   They will need your income, your debts, your FICO credit scores, amount of down payment and perhaps a couple of other items.  With those, they can give you an estimate of how much you would be qualified for.

You can find lenders in your area by clicking on "find a pro" in the top line of this webpage.

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December 05 2012
 
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how can you find out if you qualify for a motgage to buy a home?
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December 06 2012 | 4 answers
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