Don't Get Stressed... Get Pre-Approved:
Essential Tips for Buying Your Dream Home

The 7 Essential Tips for Getting a Mortgage

Getting a mortgage can seem daunting, but it doesn't have to be! Here are 7 essential tips to make the mortgage process as smooth as possible:

1. Check your credit score. Your credit score plays a big role in qualifying for a mortgage and determining your interest rate. Order a free copy of your credit report and review it for any errors. Pay down debts and avoid taking on new credit before applying for a mortgage.

2. Get pre-approved. Being pre-approved shows sellers you're a serious buyer and can give you a bargaining chip in competitive markets. It also lets you know the loan amount and rates you qualify for.

3. Shop around with lenders. Compare interest rates, fees, and closing costs from multiple lenders. Local banks and credit unions may offer better deals than big national lenders.

4. Look at down payment assistance programs. If you don't have a 20% down payment, look into FHA loans, USDA loans, VA loans, or down payment assistance programs in your state. These make homeownership more accessible.

5. Understand your monthly payments. Look beyond just the interest rate. Factor in taxes, insurance, HOA fees, and other costs to determine your total monthly payment. Make sure it fits your budget.

6. Gather your documents ASAP. Lenders will need W-2s, pay stubs, bank statements, and other paperwork. Compile these in advance to make the verification process smoother.

7. Communicate regularly with your lender. Respond promptly to any requests from your lender. Ask questions if you're unsure about anything. Keeping an open line of communication avoids delays.

Following these tips will help you get the best mortgage for your situation. Let me know if you need any assistance with the mortgage process! I'm here to help.

Jason Iacovelli
NMLS #3370
Your Favorite Loan Officer's Favorite Loan Officer
919.646.6869