How to Get a Mortgage
WHAT ARE MY LOAN OPTIONS?
Our Preferred Lender Partners will thoroughly review your financial situation before recommending specific loan options. Once you’ve provided the appropriate information regarding employment, income, assets, credit, and any other details, they will work with you to decide which mortgage programs might best suit your needs.
HOW CAN I GET THE BEST INTEREST RATES?
Interest rates are based on a few factors, such as current market conditions, your down payment, and your credit score. Our Preferred Lender Partners can work with you on how to improve your credit if needed, as well as offer insight on paying down outstanding debt or saving for a larger down payment while you are building your beautiful new home.
Using the Builders Preferred Lender Partner:
When you’re buying a newly constructed home you have different financing options. The Builder will require you to Qualify or Cross-Qualify with their Preferred Lender Partner or in house lender. You can opt for the builder’s preferred lender or use a lender of your choice once you get pre-approved with the builder’s preferred lender. You’re never required to use your builder’s preferred lender. However, getting a pre-approval and fully applying is required with the Builders Preferred Lender Partner. As always, you should shop around for the lowest interest rate on your home loan so you know you’re getting the best deal. There may be perks to using your home builder’s preferred lender in terms of speed, convenience and incentives.
A full pre-approval is as follows:
- Two Years of Income documentation (2 Yrs Federal Income Tax Returns)
- One Month of paystubs
- Two months of Assets Statements (Bank Statements, 401K, Savings, Stock Accts, Gifts, etc)
- Fill out and complete a full loan application with Preferred Lender Partner
- Preferred Lender Partner will pull borrowers credit for all borrowers
- NOTE: Self employed borrower requirements are slightly different, but income and asset documentation will be required for those that are self employed as well as credit will be pulled.