Should you talk to a mortgage professional before house hunting?

Absolutely! It is recommended that you speak to a mortgage professional to establish what your credit scores are and what type of a mortgage you can qualify.

More important than what is the maximum amount of mortgage you can qualify, consider what are you comfortable paying each month?  

More often than not, clients can qualify for a much greater mortgage amount, with a much greater monthly payment than they wish to spend. One of the first things you should consider is what is a comfortable monthly payment? Your monthly payment will be for the principal and interest payment of the mortgage, plus property taxes and your homeowners insurance. Taking on a higher monthly payment than you are comfortable with will only cause potential family disagreements, no extra money for fun, and a basic negative impact on you and/or your family.

To qualify for a mortgage we will consider your income and debts, your employment history and residence situations, your available funds for down payment and required reserves, and some other things. You will also have closing costs to consider.

Simplified Mortgages, LLC prefers to provide you with a Pre-approval letter vs. Pre-qualification letter. A pre-approval is a stronger commitment to lend than a pre-qualification. A pre-approval means the information you have provided can be validated, we have pulled and reviewed your credit report and based upon that we can provided you a mortgage under the terms you have specified for a given purchase property.

When you find a house that catches your eye, and you decide to make an offer, a pre-approval for a mortgage will do a couple of things. First, you know how much you can offer. You decide on an appropriate offer, being pre-approved gives you the confidence to know you can follow through.

More importantly, to a home seller, with your pre-approval they will not have to wonder if you can afford their home. You have the influence of a buyer ready to make the purchase right now!

Working with Simplified Mortgages from the beginning, you will understand the process and expenses involved with purchasing property!