Home Buyers Guide from Tammy Mitchell Hines & Co. Workbook for Home Buyers | Page 11

Let’s Talk Details... Great Reasons to be Pre-Qualified by a lender Confidential Personal Counseling to Determine Your Needs 1. You will know in advance what your A personal consultation will help Tammy Mitchell payments will be. Hines & Co Team find you the type of home that 2. You won’t waste time considering homes meets your needs. Tammy Mitchell Hines & Co Team you cannot afford. will also discuss your financial situation with you in 3. You can select the best loan package order to determine the price range that will without being under pressure. There are be suitable, if you have not already several options to choose from in been pre-qualified. It is important for Financing Options today’s market. Tammy Mitchell Hines & Co Team range from A to Z. 4. Sellers may find your offer to purchase or your lender to know: Talk to your lender more favorable if they know in advance of 1. How much of your savings you about custom fitting your ability to secure financing. This may the financing to make your offer more attractive if you are in intend to use toward down meet your needs competition with others. payment and closing costs; and lifestyle! 5. You will have peace of mind. 2. Your annual gross income (before taxes); Financing Options Depending upon the price of the home and/or the 3. The length of time with your amount of your down payment, there may be current employer and previous several options that fit your needs. They include: employers for the past two years; VA (for military veterans only); FHA (Federal 4. Your monthly payments on long-term debts (such Housing Administration), and Conventional. In addition to these traditional methods, a variety of as a car payment) and credit card balances; other creative financing includes Owner Finance, 5. Child care expenses and/or alimony, if any; First-Time Homebuyer Programs, Loan 6. Whether or not there have been any bankruptcy or Assumptions, and Lease Purchase. credit problems. Loan Application Tammy Mitchell Hines & Co Team can recommend several lenders who have earned our trust and with whom we’ve had good experiences in the past. The information you provide will be held in strict confidence. Pre-Qualifying and Lender Requirements Tammy Mitchell Hines & Co Team is familiar with the lender’s requirements and will be able to determine your price range and your ability to qualify for a loan by using the above information. In this counseling session, Tammy Mitchell Hines & Co Team will tell you approximately how much you can anticipate in closing costs needed at the time of closing. Tammy Mitchell Hines & Co Team may www.CallTammy.com * 618-281-3959 * A preliminary loan application is scheduled with a loan originator. The loan originator’s goal is to expedite all the necessary paperwork and information, including ordering a credit report and appraisal of the property. You will need to furnish the lender with the information as outlined on the Items Needed for Continued on next page Loan Application [email protected]