Home Loans
How Much Home Can You Afford
Once you have decided that you want to buy a home, the next step is to determine
how much home you can afford. Unless you plan on paying cash, then you will need
to obtain a loan. I have a strong relationship with various lenders in Las
Vegas. There are an assortment of loan programs available to suit almost any
buyers financial needs. Many buyers are applying for a loan and obtaining
approval before they find the home they want to buy. Getting pre-approved is
free, non-binding and takes about 30 minutes
Qualifying For A Home Loan
In order to buy a home you will need to obtain a loan to cover the cost of the
purchase. You must meet certain qualifications to be approved for a loan. It is
important to understand what these qualifications are so that you will know
approximately how expensive a home you can afford. My lender can discuss
qualification requirements before you begin looking for a home. This can help
you to determine what price home you can afford. My lender will perform only a
brief analysis of your financial information. An official loan approval can only
be granted after formal application and verification of all your financial
information.
Pre-qualification vs. Pre-Approval for a Mortgage
My mortgage lender can "pre-qualify" you for a mortgage before you start hunting
for a home. This process includes analyzing your income, assets and present debt
to estimate what you may be able to afford on a home purchase. Obtaining
mortgage "pre-approval” is another thing entirely. It means that you have in
hand a lender’s written commitment to put together a loan for you.
Reasons for becoming a pre-approved buyer:
You look only at homes that you know you are qualified to purchase.
You can close more quickly. Once you find a home, the only remaining question
will be whether the house will "appraise" for enough to warrant the loan.
You minimize the trauma of not knowing whether you’ll be approved for a loan on
the home you’ve selected.
Receive a pre-approval letter, this lets the
seller know you can close the deal.
Call Bob Today 702-308-1072 E-mail
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