Pre-approval
It is important for me to point out that my clients' confidentiality is my first responsibility. If you were referred to me by a realtor, that doesn't change my responsibility to you. I will only share with them the information necessary to help you buy your home. That information is the FICO scores and assets available to purchase the property (not all assets available, only those necessary to close the transaction). With my clients' permission, we may choose to tell them your debt-to-income ratio. You and I can discuss that idea, if I think it may help you (i.e. there are multiple offers, and you are competing for a property)
To gather enough information to determine your eligibility, I need the following:
- Your income documentation
- Assets (bank statements)
- Credit (scores and other vital information contained in your report)
- A completed loan application (I can complete most of the application after receiving 1 through 3; then get the rest of the information from you over the phone, or we can meet in person)
Click below for self-help calculators
Quick qualify: This helps you determine if you have enough cash in the bank and income to qualify for the home you want.
Pre-approval: this tab helps you determine if you qualify for a conventional mortgage. In truth, there are many different debt-to-income ratios allowed by various lenders and loan programs. This calculator uses 40%, but that is not the final word. So if the calculator says you don't qualify, don't give up. Please call me.
