Take Advantage of Loan Pre-Qualification

The Advantages

✓ Know how much house you can afford.
✓ Know how much cash you will need for the down payment.
✓ Simplifies pre-approval.

A number of factors determine the price range of homes you'll want to preview - one of these factors is loan pre-qualification.

As your agency, we will help you pre-qualify. Items considered when pre-qualifying for a mortgage loan include:

  • Employment History

  • Credit History and Scores

  • Monthly Income and Expenses

With our knowledge of the mortgage market, I'll help you make an informed decision as to the type of loan you'll want. There are many different types of loans to consider - FHA, VA, Conventional and even Bad Credit Loans. We'll find the best loan for your situation.

Applying for Your Home Loan

Applying for a mortgage loan is one of the most distressing elements of buying a home, but it doesn't have to be. I have a close relationship with some mortgage lenders in Blowing Rock, and they've helped me realize a few things that make the process of applying for a loan very easy.


1. Assemble a list of questions regarding your loan program

If you don't perfectly realize the pros and cons of the various programs, make sure to bring a list of questions. It is often a challenge understanding the distinctions between fixed and adjustable rate mortgages. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both.


2. Decide when you want to lock

When you lock in an interest rate, it indicates that your lender commits to the interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who choose to float think interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.


3. Determine if you want to pay additional points to lower your rate

Usually you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. If you're unsure if purchasing points is the best option for you, click here to use our points calculator.


4. Gather your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here for a list of common loan documentation.

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PO Box 2045 217 Red Wolf
Blowing Rock, NC 28605