Buyer Frequently Asked Questions
Home much do I qualify for?
The first step in the home purchase path, is fully understanding your finances. Lenders will use ratios calculated from your income, debt, and credit report. As a rough estimate, basic loan programs will calculate 28% of your income for your entire mortgage payment. PITI – Principal, Interest, property Taxes, and Insurance.
Will different lenders be able to qualify me for more money?
Generally speaking No. Gone are the days when there were hundreds of loan options. We are left with few basic loan programs, however, using one of our experienced lenders, we can show you how to qualify for more by altering your credit, debt, down payment, and other resources. There are a variety of options that are available for each situation, and is critical you work with an experienced lender that knows all these options.
How to Find a Reputable Lender
We’ve got you covered! We have 4-5 lenders we work with that are all very experienced in financing and have been in the business 10+ years.
Some lenders have specific specialties, and others have slightly different loan programs available, which is why we work with a few lenders.
Let’s connect so we can refer you to the lender the fits your situation!