A Home Financial Group Mortgage Specialist will analyze a snapshot of your income, assets and employment. In order to give you an idea of the mortgage amount you qualify for.
We will meet you for the introductory meeting, this can be done in person, via phone, or skype. This when your Mortgage Specialist gets to know you, in addition to your wants and needs. We will discuss your income, long term debts, financial history. Depending on your financial situation, Home Financial Group will issue you a prequalification letter which can help you shop for affordable properties in your adequate price range.
What does it all mean?
The decision for loan approvals are made based on the probability that you will repay the amount lent to you. Lender’s consider many factors when analyzing your ability to repay. To ensure a mortgage loan is right for you, a lender will verify your income and employment. In addition to your monthly Debt to Income ratio – your total income minus monthly credit payments and other debts.
*A pre-qualification is not an approval of credit and does not indicate underwriting requirements have been met.