Before we begin, take a look at the following questions:
- You have money saved for a down payment on a home?
- You handled your credit inquiries and raised your credit score?
- You created a budget to determine a comfortable mortgage payment?
Did you answer yes to all my questions? If so, then you’re almost ready for mortgage pre-qualification! Before you move forward, you should take a look at different types of mortgages and see what you may qualify for to receive a loan. Different mortgages have different qualifications that need to be met. For example, a conventional mortgage would require a minimum 680 credit score, while FHA loans require a minimum 580 score!
Check out an article from the Home Buying Institute that further explains the mortgages you may qualify for to buy your home (CLICK HERE). It’s always a good idea to educate yourself so you know exactly what to expect as you move forward.
You’re now ready to make the commitment and move closer to Homeownership! Contact a mortgage lender and get pre-qualified for your mortgage!
The Graybill Realty Blog 