Many times as a Mortgage Loan officer, I’m asked how to qualify for a home loan – especially for first time home buyers. The costs for homes have increased by 20-30% in many markets. So I’ve broken down 8 simple steps to qualify for your 1st home loan.
8 Simple Steps for your Home loan
- Check your credit score and work to improve it if necessary. A good credit score is typically required to qualify for a home loan.
- Save for a down payment. Most lenders require a down payment of at least 3% to 5% of the purchase price.
- Gather required documentation, such as pay stubs, tax returns, and bank statements.
- Call me at 480-773-0714 to apply for a loan. Be prepared to provide documentation of your income, employment, and assets.
- Get pre-approved for a loan. This will give you an idea of how much you can borrow and can help you when you start looking for a home.
- Find a real estate agent and start looking for a home. Remember to stay within your budget and keep in mind that you will need to pay closing costs in addition to the down payment.
- Once you find a home, submit an offer and if it accepted, go through the underwriting process, during this process the lender will verify your income, credit, and assets and will also appraise the property to ensure the value of the home is equal to or greater than the loan amount.
- Close on the loan and move into your new home.
Me and the team here at Valor Lending Group have helped thousands of home buyers qualify for their first home loan! There is no question too big or too small that we won’t be able to help you with. We pride ourselves on our top-notch communication skills to tackle any situation that comes our way. Reach out to me to today, I’m an expert on how to secure a VA Loan for your AZ Property and will give back to your ASAP with advice you can trust.
Qualify for your Home Loan with the best Experience and Service
Valor Lending Group strives to give you the top loan experience on the purchase or refinance of your new or current home. I take pride in helping you with your new home loan and promise to be here for you day and night to answer any questions or concerns you may encounter through your loan scenario.
I will work around the clock to get you the top rates call me today at 480-773-0714
CALL or EMAIL ME for immediate attention to your scenario!
Please do not hesitate to call on me for any scenarios.
I look forward to an opportunity to demonstrate my prompt and professional service.
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $2.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5MM
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 5% down Jumbo’s with NO MI up to $2MM / 10% down up to $3MM
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500MM
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We also offer:
- Conventional Conforming Loans (under $647,200)
- High Balance Conforming (from $647,200-$970,800)
- Jumbo Loan Financing to $10 Million / Super low rates! / 10% down Jumbo to $3MM
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
I am never too busy for your referrals!
WE ARE PROUD SUPPORTERS OF OUR TROOPS!
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