Jesus M. Fernandez, REALTOR® 786-553-7530
Morris Williams Realty: 888-326-3949
There is no town like my hometown! I have it all here!
If you are financing your next purchase, please be aware that if you have been late with any mortgage payments (if any) over the last 12 months, may result in your inability to obtain financing on any new purchase. At least 12 months of consecutive on-time mortgage payments must have been made, or most lenders may not agree to finance your new purchase. Check your mortgage payment records and make sure you have paid consistently on time. If you were late, all is not lost! Give us a call and we may still be able to help you obtain the financing you need.
Take these 3 steps to get started
Check & confirm your borrowing power.
The first step to selling your home and financing your new purchase begins by checking where you are on your financial map. Start by checking your credit score with the three credit reporting agencies. Pay careful attention to your credit! The best mortgage rates often go to borrowers with good credit scores, while those with low credit scores can still possibly qualify for a loan, they may end up paying higher interest rates or higher closing costs. Know your credit score! It pays to know!
You can do it for free! Visit AnnualCreditReport.com to get your free report. If there are errors in your credit report, you can often correct them in many instances on your own, or you can hire a professional credit repair agency to help you. If you have a low score, do what you can to improve your credit rating, by paying down your outstanding debt. Call us! We can answer of your credit questions
You can also check your credit score at MyFico.com for $19.95 for a single bureau, or check all three for $59.95. Anyone with scores below 600 will find it very difficult to qualify for a mortgage; borrowers with scores over 740 qualify for the best rates. It’s a good idea to try to improve your score in the months before you apply for a mortgage, because even a 20-point improvement can make a difference in the rate you can get from a lender!
"By failing to prepare, you are preparing to fail."
-Benjamin Franklin
Get pre-approved by a lender.
After confirming where you are on your financial map and knowing your credit score, it's time to speak with a lender or two and learn about how much of a loan you qualify for. Without knowing your borrowing limit, it's very difficult to begin a property search or set any spending limits. Additionally, you will need a Pre-Approval Letter from a lender, to accompany any offer you make on a property. Otherwise, your offer won't be considered by sellers, since they won't know if you are qualified for a mortgage or can afford their home.
Gather documentation for Pre-Approval.
Typically, you will need to show one month’s worth of pay stubs, two months of bank statements and two years of tax returns, in addition to any bank accounts you may have. Some lenders may have additional requirements.
Once you have your credit report and all your paperwork together, call a few of the lenders advertising on this website, to learn about your credit limit and securing a Pre-Approval Letter from at least one lender.
After receiving your Pre-Approval Letter, which states your borrowing limit, you can begin searching for your next home. Give us a call and we will help you locate a home that meets your needs for today, and for years to come.
What type of loan is right for you?
Learning about your loan options, will help you decide on
which loan is best for you!
Today, home buyers have many lending sources and different loan types to choose from. Loans have different features, and choosing the right type of loan, will depend on various factors; Like the length of time you plan to live at your new home, the amount of your downpayment, your income, debts or the type of loan you are qualified for by a lender. We can help you determine, which one is right for you, by asking you a few questions! Everyone's situation is different. We will help you sorted it all out!
Call us for a private consultation, about your personal selling situation.
Planning your sales and purchasing strategy, will put you in control.
Did you know compared with single male borrowers, single female borrowers pay higher rates that add up to thousands of dollars in additional costs? Don't let this happen to you! LEARN MORE
Get Pre-Approved today,
by one of these fine local lenders.
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