Your Initial Consultation and Beyond
If geography allows, you will meet with your mortgage consultant in person, so that you can further discuss your personal financial goals and expectations. Your mortgage consultant will want to make sure that she is advising you of the proper loan programs to meet your specific needs and budget. This consultation ensures that you are comfortable with the process and well-informed of your choices. Your mortgage consultant will guide you step-by-step through the loan process, and will manage all the details of your transaction. She will keep you updated, educated, and in control.
If you are applying for a pre-approval for a purchase loan, your mortgage consultant will guide you as to how much of a house payment (including principal and interest, private mortgage insurance, property taxes and homeowners insurance – PITI) is within your budget. That monthly payment will translate to a purchase price range that you can shop for homes within. Once you have chosen a property that you want to write an offer to purchase on, she will provide your realtor with a customized pre-approval letter. The pre-approval letter will help strengthen your purchase offer’s position with the prospective seller of that property.
Applying for a mortgage can be a daunting task. The important thing to remember is to be well-prepared before calling your mortgage consultant. If you’ve reviewed your credit history recently, there should be no bombshells. If you have your income and asset documentation saved and readily available, then it should take just a few minutes to get everything together. Your mortgage consultant is there to make the process easier for you. She is knowledgeable, efficient and focused on making your experience pleasant.
If you’d like to discuss the mortgage process in greater detail, please contact me at bahale1@gmail.com.
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